SEBI launches portal to report tech-glitches for stock exchanges and other MIIs

From February 3, 2025, when the directions in the present circular comes into force, the MIIs will need to make their submissions to the portal.

The market regulator has launched a portal for market infrastructure institutions (MIIs) such as stock exchanges and clearing corporations to report technical glitches. It is aimed at improving the data quality and traceability of submissions, among other things.

The portal will be called iSPOT for Integrated SEBI Portal for Technical Glitches, and it will be integrated into the SEBI Intermediary (SI) portal for ease of access.

In a circular issued on January 28, the Securities and Exchange Board of India (SEBI) said, "In order to streamline the reporting process of technical glitches across MIIs and creation of centralized repository of technical glitches, SEBI has developed a webbased portal, i.e. Integrated SEBI Portal for Technical Glitches (iSPOT), for submission of preliminary and final RCA reports of technical glitches by the MIIs."

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When a technical glitch happens, MIIs are required to report it to the regulator along with the Root Cause Analysis (RCA). Currently, these are sent to a dedicated email techglitch@sebi.gov.in.

From February 3, 2025, when the directions in the present circular comes into force, the MIIs will need to make their submissions to the portal.
According to SEBI, the new system "would help to improve the data quality, traceability of historical submissions related to technical glitches at the end of SEBI and MIIs, system generated reports for monitoring of various compliance requirements in a more focused manner and automated intimation to MIIs for submission of RCA report within SEBI defined timelines pursuant to submission of preliminary report by concerned MII."