SEBI Directs MIIs to Submit Real-Time Performance Monitoring Policy in 3 Months

Circular no. HO/47/13/14(1)2026-MRD-TPD1/I/4755/2026; Dated: 11.02.2026

The Securities and Exchange Board of India (SEBI) has directed Stock Exchanges and Clearing Corporations (CCs) to prepare and submit a capacity planning and real-time performance monitoring policy document for the commodity derivatives segment.

1. Requirement to Prepare and Submit Policy Document

Under the circular:

• Stock Exchanges and Clearing Corporations must formulate a comprehensive policy document covering:

1. 1. Capacity planning
   2. Real-time system performance monitoring

• The policy document must be submitted to SEBI within three months from the date of the circular.

The requirement is intended to strengthen operational resilience and system preparedness in the commodity derivatives segment.

2. Applicability of the Provisions

The provisions of the circular:

• Shall apply to all Market Infrastructure Institutions (MIIs)
• Except the commodity derivatives segment of Stock Exchanges and Clearing Corporations

This carve-out clarifies the scope of applicability and ensures targeted compliance.

3. Effective Date

• The provisions shall come into force three months from the date of the circular.

MIIs are required to align their internal frameworks and technological systems accordingly within the stipulated timeline.

4. Regulatory Objective

The direction seeks to:

• Enhance system capacity and scalability
• Ensure real-time performance monitoring
• Strengthen operational risk management
• Improve market stability and reliability

5. Key Takeaway

SEBI’s direction mandates the preparation and submission of a structured capacity planning and performance monitoring framework, reinforcing operational resilience standards for market infrastructure institutions.

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