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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

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

12-Sep-2024 | SEBI/HO/MRD/TPD/P/CIR/2024/119

SEBI has issued a circular in reference to Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/171, Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/166, SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/136 regarding modifications in guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIs), effective from 12th September, 2024. Vide this circular, amendments have been made to all three abovementioned circulars. Key highlights:- 1. Clause 9.1.1.2 Chapter 2 of the SEBI Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/171, Clause 4.31.1.2 of Section 4 of SEBI Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/166 and Clause 16.4.2(b) of Section 16 of SEBI circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/136 stand modified, which shall be read as under:- "For Stock Exchanges: Apart from DRS, all Stock Exchanges shall also have a Near Site (NS) to ensure near zero data loss. For Clearing Corporations and Depositories: Apart from DRS, all Clearing Corporations and Depositories shall also have a Near Sites(NS) to ensure zero data loss." 2. Clause 9.1.2.4 of Chapter 2 of the SEBI Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/171 , Clause 4.31.2.4 of Section 4 SEBI Master Circular No.SEBI/HO/MRD2/PoD-2/CIR/P/2023/166 and Clause 16.4.3(d) of Section 16 of SEBI circular No. SEBI/HO/MRD/MRD-PoD-1/P/CIR/2023/136 stand modified shall be read as under: "MIIs shall ensure that the Recovery Point Objective (RPO) -the maximum tolerable period for which data might be lost due to a major incident - shall be near zero. Further, MIIs shall have a documented methodology for data reconciliation when resuming operations from DRS or any other site as applicable." Kindly refer to the attached circular for more information.

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