NSE to hold special session on March 2 with intra day switch over to DRS

The National Stock Exchange (NSE) on February 14 said it will have a special trading session on March 2, which is a Saturday, with intraday switch over to disaster recovery (DR) site. The special session is being conducted to test the exchanges' readiness to handle unforeseen disasters. The trading session will be in both equity and equity derivatives segments, said NSE. The special trading session would involve intra-day switchover from the primary site to the disaster recovery site.

"Members are requested to note that Exchange shall be conducting a special live trading session with intra-day switch over from Primary site to Disaster Recovery site on Saturday, March 02, 2024, in Equity and Equity Derivatives segments," NSE said in a circular.

The session will have two phases. The first phase will be for 45 minutes and will start at 9.15 am on the primary site. The second special live trading session will commence at 11.30 am and conclude at 12.30 pm and will be conducted from the disaster recovery site. Similar sessions from the disaster recovery site have been conducted before in 2016 and 2017.

The special session was originally scheduled for January 20. However, due to the Ram Temple consecration ceremony in Ayodhya, a complete trading session took place on January 20 instead. As a result, January 22 was designated as a holiday for equity markets. 

Last year, Sebi proposed guidelines to strengthen governance of qualified Registrars and Transfer Agents (QRTAs) for handling disruption and improving preparedness by conducting periodic drills. In its circular, the regulator has asked QRTAs to put in place a Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) in a bid to ensure continuity of operations and maintain data and transaction integrity.

The proposed guidelines aimed at "strengthening overall resiliency, the procedures at or governance of QRTAs for handling disruption, augmentation of systems and practices to achieve better Recovery Time Objective (RTO) and Recovery Point Objective (RPO), and to improve overall preparedness by conducting periodic announced/ unannounced drills.

(With agency inputs)

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