ANI
20 Nov 2023, 19:25 GMT+10
Mumbai (Maharashtra) [India], November 20 (ANI): The Securities and Exchange Board of India (SEBI) marked a significant milestone with the official launch of the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE).
According to the Bombay Stock Exchange (BSE) media release, this innovative platform, conceptualized and implemented by Market Infrastructure Institutions (MIIs), is poised to revolutionize the investor experience by addressing potential risks arising from technical glitches at Trading Member ends.
Risk mitigation in financial markets is an ongoing endeavour, and the IRRA platform emerges as a proactive measure by SEBI to safeguard investors in the event of technical disruptions.
The soft launch of IRRA took place on October 3, 2023, and its official inauguration on Monday signals its availability for the benefit of a broader investor base.
SEBI Chairperson, Madhabi Puri Buch, presided over the launch, emphasizing the importance of creating layers of protection for investors, especially during unforeseen technical challenges.
The platform is specifically designed to cater to investors utilizing Internet-based trading and Security Trading through Wireless Technology, excluding algo trading and institutional clients.
The IRRA platform offers a recourse mechanism for Trading Members who encounter technical glitches, impacting their ability to serve clients across exchanges at both the Primary site and Disaster Recovery site.
Upon invocation, the platform initiates basic checks and downloads trades of Trading Members from all trading venues.
Investors relying on internet trading or wireless technology receive prompt SMS/email notifications containing a link to access the IRRA platform.
Through this link, investors gain insights into the status of their investments, and existing orders, and can place orders to square off or close positions.
The launch of IRRA represents a strategic move by SEBI to fortify investor protection and enhance the overall resilience of the financial markets.
The platform provides a crucial lifeline for investors, ensuring they can actively manage their portfolios even in the face of unexpected technical disruptions.
Notably, IRRA aims to add an additional layer of safeguarding for investors who engage in internet-based and wireless technology-driven trading.
By facilitating the orderly management of positions and orders during technical glitches, IRRA empowers investors with more control over their portfolios.
Madhabi Puri Buch, SEBI Chief, expressed pride in India's technological advancements, highlighting the nation's role as a global leader in setting best practices. She emphasized the manifestation of India's immense potential through groundbreaking technologies like IRRA, positioning the country on the global stage for innovation and investor protection.
Buch said, "As a nation there is never baan a time that we have been more proud of not only what we have created but of what lies ahead. Its not just about the potential of India but this is not the menefestation of th immense amount of that potential that India has.
This is this technology which now sets us apart and in numerous international and global fora people seek India out and say how do we appreciate, how don we understand, how India is setting the global best practice in numerous areas".
The IRRA platform stands as a testament to India's commitment to fostering a robust and investor-friendly financial ecosystem.
As technology continues to reshape the landscape of financial markets, initiatives like IRRA underscore SEBI's dedication to staying ahead of the curve and ensuring a secure environment for investors.
The platform's user-friendly interface and real-time functionality contribute to a seamless experience for investors navigating through unexpected technical challenges.
SEBI's IRRA platform emerges not only as a technological marvel but as a pivotal tool empowering investors and reinforcing India's standing as a trailblazer in financial technology. (ANI)Get a daily dose of Tennis Times news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Tennis Times.
More InformationBy Vipul Kashyap Mumbai (Maharashtra) [India], June 2 (ANI): The Board of Control for Cricket in India (BCCI) Vice President Rajeev...
London [UK], June 2 (ANI): Following his side's hard-fought win over West Indies in the second ODI, England batter Joe Root said that...
Mumbai (Maharashtra) [India], June 2 (ANI): The Board of Control for Cricket in India (BCCI) Vice President Rajeev Shukla will become...
Johannesburg [South Africa], June 2 (ANI): Ahead of the ICC World Test Championship final against Australia, South African opener Ryan...
Ahmedabad (Gujarat) [India], June 2 (ANI): Following his side's qualification to the final of the Indian Premier League (IPL) with...
Johannesburg [South Africa], June 2 (ANI): Former England pacer Stuart Broad has been roped in as a consultant for the South Africa...
RIO DE JANEIRO, Brazil: Starting June 1, Rio de Janeiro's Mayor Eduardo Paes has issued a new set of rules for the city's beaches that...
HONOLULU, Hawaii: A man from Oregon, Oliver Widger, has arrived in Hawaii after sailing across the ocean with his cat, Phoenix. He...
Imphal (Manipur) [India], June 2 (ANI): Union Minister Kiren Rijiju on Monday said that a critical humanitarian assistance and disaster...
Kyiv [Ukraine], June 2 (ANI): Major General Mykhailo Drapatyi, commander of Ukraine's land forces, tendered his resignation on Sunday,...
New Delhi [India] June 2 (ANI): Congress leader Priyanka Gandhi Vadra expressed grief over the deaths caused by heavy rains and floods...
Aizawl (Mizoram) [India], June 2 (ANI): In view of torrential rainfall triggering landslides, mudflows, and rockfalls across Aizawl...