Securities and Exchange Board of India
June 22, 2012
All Stock Exchanges / All Depositories
Dear Sir / Madam,
Sub: Clarification to the “Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) Circular dated April 13, 2012”
1. SEBI vide circular no CIR/MRD/DMS/12/2012 dated April 13, 2012 had issued broad guidelines for Business Continuity Plan and Disaster Recovery for Stock Exchanges and Depositories.
2. In this regard, Stock Exchanges and Depositories have sought guidance and clarifications regarding some of the provisions of the circular.
3. Upon examination it has been decided to modify the guidelines as under:
a. Clause 1. ii. may be read as:
“Apart from DRS, stock exchanges should have a Near Site (NS) to ensure zero data loss whereas, the depositories should also ensure zero data loss by adopting a suitable mechanism”.
b. Clause 1. v. b) may be read as:
“Exchanges / Depositories should have Recovery Time Objective (RTO) and Recovery Point Objective (RPO) not more than 4 hours and 30 minutes, respectively”.
c. Clause 1. vii. c) may be read as:
“Stock Exchanges / Depositories / Clearing Houses or Clearing Corporations of Stock Exchanges should also demonstrate their preparedness to handle any issue which may arise due to trading halts in stock exchanges and / or failure or stoppages at other Stock Exchanges / Depositories / Clearing Corporations”.
4. This circular is being issued in exercise of powers conferred under Section 11 (1) of the Securities and Exchange Board of India Act, 1992 to protect the interests of investors in securities and to promote the development of, and to regulate the securities market.
5. This circular is available on SEBI website at www.sebi.gov.in under the categories “Legal Framework” and “Circulars”.
B. J. Dilip
Deputy General Manager