The Securities and Exchange Board of India (SEBI) has initiated the Investor Risk Reduction Access (IRRA) platform at the Bombay Stock Exchange (BSE). This platform, developed under the guidance of SEBI by Market Infrastructure Institutions (MIIs), aims to safeguard investors from risks associated with technical issues at the trading member’s end. IRRA, which began its soft launch on October 3, 2023, supports internet-based and wireless technology trading, excluding algorithmic trading and institutional clients.
IRRA can be invoked by trading members when they are faced with a technical glitch at their end impacting their ability to service clients across exchanges from both primary site and disaster recovery site. The platform downloads trades of the trading member from all the trading venues and sends SMS/email to investors using internet trading or wireless technology along with a link to access IRRA. Investors using this link can review the status of their investment, orders, and so on, and place orders for squaring off or closing positions.