TMI BlogGuidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs)X X X X Extracts X X X X X X X X Extracts X X X X ..... vancement in technology and improved automation of processes in terms of transitioning time, wherein the operations can be moved from the Primary Data Centre (PDC) to the DRS, it was felt that the extant framework needs to be reexamined. 3. Considering the fact that clearing corporations are systemically important infrastructure institutions, it has been decided that framework on BCP and DR shall also be made applicable to all the clearing corporations. 4. Upon examination and based on the recommendation of Technical Advisory Committee (TAC) of SEBI, the modified framework for BCP and DR shall be as under: a. The stock exchanges, clearing corporations and depositories (collectively referred as Market Infrastructure Institutions M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... IIs should test such switchover functionality by conducting unannounced 2 day live trading session from its DRS. This would help to gauge the state of readiness of various other processes and procedure relating to business continuity and disaster recovery that may not get tested in a planned exercise. c. MIIs shall have Recovery Time Objective (RTO) and Recovery Point Objective (RPO) of not more than 4 hours and 30 minutes, respectively. d. The time taken to define/ establish/ declare a disaster should not be more than 2 hours and the total RTO including the time taken to declare an incident as disaster should not be more than 4 hours. Further, RTO shall be calculated from the occurrence of disaster and not from the time an incident i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l as PDC) should be in place. e. The results and observations of these drills should be documented and placed before the Governing Board of stock exchanges /clearing corporations/ depositories. Subsequently, the same along with the comments of the Governing Board should be forwarded to SEBI within a month of the DR drill. f. The system auditor while covering the BCP DR as a part of mandated annual system audit should check the preparedness of the MII to shift its operations from PDC to DRS unannounced and also comment on documented results and observations of DR drills. g. Live trading sessions from DR site shall be scheduled for at least two consecutive days in every six months. Such live trading sessions from the DRS shall be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g halts in stock exchanges. e. The policy document and subsequent changes / additions / deletions should be approved by Governing Board of the stock exchanges / clearing corporations/ depositories and thereafter communicated to SEBI. f. In case a MII desires to lease its premise at the DRS to other entities including to its subsidiaries or entities in which it has stake, the MII should ensure that such arrangements do not compromise confidentiality, integrity, availability, targeted performance and service levels of the MII s systems at the DRS. The right of first use of all the resources at DRS including network resources should be with the MII. Further, MII should deploy necessary access controls to restrict access (including physic ..... X X X X Extracts X X X X X X X X Extracts X X X X
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