9911796707
TMI BlogBusiness Continuity for Clearing Corporations through Software as a Service (SaaS) ModelX X X X Extracts X X X X X X X X Extracts X X X X ..... DRS) for Market Infrastructure Institutions (MIIs). While DRS is meant to ensure Business Continuity of the MIIs in case of any disaster, it may have limited utility for any major malfunction of software, as software deployed at Primary Site as well as at DRS remains identical. 2. In order to strengthen the Business Continuity framework of MIIs particularly from the perspective of handling major software malfunction, discussions were held with MIIs and it was decided that in the first phase, systems would be designed to provide additional tool for business continuity in case of issues with Risk Management Systems (RMS) of CCs. The existing interoperability arrangement between CCs, mentioned in Clause 4 of Chapter 6 of SEBI Master Circular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d depository data as required from depositories. The client CC would carry out all the functions related to online real time risk management at the SaaS-RMS. This would ensure that if the SaaS-RMS is invoked by client CC, it would be in a ready state to take over operations. ii. Responsibility of service provider CC would be to provide the functioning software for RMS and that for other associated processes to the client CC. Beyond that, it would be responsibility of the client CC to operate SaaS-RMS in normal course and on the day it is invoked. Further, client CC would put in place systems to detect latency/performance issue of SaaS-RMS to flag off such anomalies to the concerned MII(s). iii. Each CC shall also make necessary arrangem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e RMS functioning to resume by CC-A through SaaS-RMS within the timelines stipulated in the instant circular. c. CMs of CC-A to login and operate through a separate interface provided by CC-A. 8. The aforesaid mechanism has been discussed with Technical Advisory Committee of SEBI and CCs have implemented a working model of SaaS-RMS. On the basis of test runs carried out by CCs, following timelines are stipulated: a. A CC to take decision to shift operations to SaaS-RMS within 30 minutes of occurrence of its inability to do online real time risk management of trades at its site of functioning. b. Within 30 minutes of the above, all allied activities such as sending violation messages to exchanges, intimating details of portal to inter ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
