Sebi Discontinues Obsolete IRRA Platform for Stock Brokers
Sebi has discontinued the Investor Risk Reduction Access platform meant for stock brokers due to its redundancy, citing stronger business continuity and cyber resilience frameworks. Despite its intended facilitation during trading disruptions, it was rarely used. Robust regulatory and technological measures now ensure effective trading operations.
In a decisive move, market regulator Sebi announced the immediate discontinuation of the Investor Risk Reduction Access (IRRA) platform for stock brokers, citing its redundancy in light of more advanced frameworks.
The IRRA platform, which was operational from October 1, 2023, was created to serve as an alternative access point for stock brokers during trading service disruptions.
However, Sebi has noted that the strengthened business continuity and cyber resilience frameworks, along with the availability of robust contingency trading options, have rendered the platform obsolete and unused since its inception.
(With inputs from agencies.)
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