The Securities and Exchange Board of India (Sebi) has introduced an IT Resilience Index (ITRI) framework for market infrastructure institutions (MIIs) to monitor the robustness and resilience of their critical IT systems and strengthen the continuity of securities market operations.
The regulator, in its latest circular, said IT systems of MIIs form the backbone of the smooth and uninterrupted functioning of the securities market, and any disruption, performance degradation or compromise of these systems could affect critical market operations and pose risks to trust in the securities market.
Sebi said the framework is aimed at ensuring the availability, reliability, performance and cyber resilience of IT systems through robust governance, proactive monitoring and timely corrective measures.
9 parameters to determine IT resilience
Under the system-driven framework, the ITRI will measure the robustness of critical systems of MIIs, along with other systems feeding into or related to such critical systems.
The index will have a total score of 100, with nine parameters and their respective weightages:
