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Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) - SEBI - SEBI/HO/MRD1/DTCS/CIR/P/2021/33

Extract

..... consultation with MIIs and Technical Advisory Committee (TAC) of SEBI, the modified framework for BCP and DR shall be as under: a. Stock Exchanges, Clearing Corporations and Depositories (collectively referred as Market Infrastructure Institutions - MIIs) shall have in place BCP and DRS so as to maintain data and transaction integrity. b. Apart from DRS, all MIIs including Depositories shall also have a Near Site (NS) to ensure zero data loss. c. The DRS should preferably be set up in different seismic zones and in case due to certain reasons such as operational constraints, change of seismic zones, etc., minimum distance of 500 kilometer shall be ensured between PDC and DRS so that both DRS and PDC are not affected by the same disaster. d. .....

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Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) - SEBI

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..... associated application environments of DRS / NS and PDC shall have one to one correspondence between them. b. MIIs should develop systems that do not require configuration changes at the end of trading members/ clearing members/ depository participants for switchover from the PDC to DRS. Further, MIIs should test such switchover functionality by conducting unannounced live trading from its DRS for at least 1 day in every six months. Unannounced live trading from DRS of MIIs shall be done at a short notice of 45 minutes after 90 days from the date of this circular. c. In the event of disruption of any one or more of the ‘Critical Systems’ (as defined below), the MII shall, within 30 minutes of the incident, declare that incident .....

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Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) - SEBI

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..... zero data loss whereas, the one between PDC and DRS and between NS and DRS may be asynchronous. i. Adequate resources (with appropriate training and experience) should be available at all times to handle operations at PDC, NS or DRS, as the case may be, on a regular basis as well as during disasters. 5. DR drills/Testing a. DR drills should be conducted on a quarterly basis. In case of Exchanges and Clearing Corporations, these drills should be closer to real life scenario (trading days) with minimal notice to DRS staff involved. b. During the drills, the staff based at PDC should not be involved in supporting operations in any manner. c. The drill should include running all operations from DRS for at least 1 full trading day. d. Before DR .....

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Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) - SEBI

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..... of similar problems. 6. BCP - DR Policy Document a. MIIs shall put in place a comprehensive BCP-DR policy document outlining the following: i. Broad scenarios that would be defined as a Disaster for an MII (in addition to definition provided in para 4 (c) of the circular). ii. Standard Operating Procedure to be followed in the event of Disaster. iii. Escalation hierarchy within the MII to handle the Disaster. iv. Clear and comprehensive Communication Protocols and procedures for both internal and external communications from the time of incident till resumption of operations of the MII. v. Documentation policy on record keeping pertaining to DR drills. vi. Scenarios demonstrating the preparedness of MIIs to handle issues in Critical Systems .....

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Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs) - SEBI

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