SEBI Update - Modifications in Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) of Market Infrastructure Institutions (MIIs)

SEBI's modifications to guidelines concerning Business Continuity Plan (BCP) and Disaster Recovery (DR) systems for Market Infrastructure Institutions (MIIs), such as Stock Exchanges, Clearing Corporations, and Depositories

Near Site (NS) Requirement :

Stock Exchanges : Must have a Near Site (NS) in addition to a Disaster Recovery Site (DRS) to ensure near-zero data loss.

Clearing Corporations & Depositories : NS must ensure zero data loss.

Manpower at DRS : Expertise at the DRS must be equivalent to that at the Primary Data Center (PDC), enabling independent operations at short notice.

Recovery Point Objective (RPO) :The RPO, which determines the maximum tolerable data loss, should be near zero. There should be a documented process for data reconciliation when resuming operations from DRS or other sites.

Solution Architecture :

Stock Exchanges : PDC, DRS, and NS must ensure high availability, fault tolerance, no single point of failure, near-zero data loss, and data integrity.

Clearing Corporations & Depositories : The same, but with a requirement for zero data loss.

Replication :

Stock Exchanges : Synchronous replication between PDC and NS for near-zero data loss; asynchronous replication between PDC and DRS.

Clearing Corporations & Depositories : Synchronous replication between PDC and NS for zero data loss; asynchronous between PDC and DRS. Link- View Circular