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Stock exchanges in the International Financial Services Centre execute live trading sessions from their Disaster Recovery sites. Trades executed from the Disaster Recovery site outside GIFT-IFSC due to regulatory requirements are deemed to have been executed at GIFT-IFSC. This clarification applies to all stock exchanges and clearing corporations in the International Financial Services Centre.
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F. No. 257/IFSCA/CMD-DMIIT/BCP-DR/2021/1
June 22, 2021
To, All Stock Exchanges in the International Financial Services Centre (IFSC) All Clearing Corporations in the International Financial Services Centre (IFSC)
Dear Sir/Madam,
Subject: Status of transactions executed at Disaster Recovery (DR) Site of the MIIs
IFSCA Regulations as adopted from Securities and Exchange Board of India (SEBI), require the Stock Exchanges to schedule live trading sessions from their Disaster Recovery (DR) sites located in a different seismic zone, from that of the data centre, for at least two consecutive days in every six months.
In this regard, it is hereby clarified that the trades executed from the DR site (site located outside GIFT-IFSC) of the stock exchanges in GIFT-IFSC, due to the afore-mentioned regulatory requirement, shall be deemed to have been executed at GIFT-IFSC.
This circular is issued in exercise of powers conferred by section 12 of the International Financial Services Centres Authority Act, 2019 to develop and regulate the financial products, financial services and financial institutions in the International Financial Services Centres.
A copy of this circular is available on the website of the International Financial Services Centres Authority at www.ifsca.gov.in.
Yours faithfully,
Praveen Kamat
Deputy General Manager
Division of Market Infrastructure Institutions & Technology
Capital Markets Department
email: praveen.kamat@ifsca.gov.in
Tel: +91-079-61809820
