SEBI develops web-based portal for stock exchanges, other MIIs to report technical glitches
The new portal—Integrated SEBI Portal for Technical Glitches (iSPOT)—is aimed at streamlining the reporting process of technical glitches across MIIs as well as creating a centralised repository of technical glitches.
Markets regulator SEBI on Tuesday said it has developed a web-based portal for submission of preliminary and final root cause analysis (RCA) reports of technical glitches by stock exchanges and other market infrastructure institutions (MIIs).
The new portal—Integrated SEBI Portal for Technical Glitches (iSPOT)—is aimed at streamlining the reporting process of technical glitches across MIIs as well as creating a centralised repository of technical glitches.
Presently, the MIIs—stock exchanges, clearing corporations and depositories—are required to report information about technical glitches and submit the Root Cause Analysis (RCA) reports to SEBI on a dedicated email ID.
In its circular, the regulator said, "The preliminary and RCA report of technical glitch shall be shared by the MII with SEBI through a dedicated web-based portal of SEBI viz. iSPOT".
This would help to improve the data quality, traceability of historical submissions related to technical glitches at the end of SEBI and MIIs, system-generated reports for monitoring of various compliance requirements in a more focused manner and automated intimation to MIIs for submission of RCA report within SEBI defined timelines pursuant to submission of preliminary report by concerned MII, the regulator said.
iSPOT has been integrated with SEBI's Intermediary(SI) portal for ease of access to MIIs and can be accessed by MIIs by using the existing login credentials of SI portal.
The new circular will come into force from February 3.