SEBI Unveils SaaS Framework for Clearing Corporations to Enhance Business Resilience
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- By Chetan Kulasri
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- Last Updated on 22 December, 2023
Latest from Taxmann
Circular No. SEBI/HO/MRD/TPD/P/CIR/2023/192, Dated 20.12.2023
To strengthen the business continuity framework of Clearing Corporations (CCs) for handling major software malfunctions, the SEBI directed CCs to establish their critical Risk Management Systems (RMS) using a software-as-a-service (SaaS) model. Non-availability of RMS poses a major risk to the continuity of trading on stock exchanges. In the first phase, systems would be designed to provide an additional tool for business continuity in case of issues with RMS of clearing corporations.
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