SEBI launches new portal for reporting tech glitches in market
What's the story
The Securities and Exchange Board of India (SEBI) has launched a new portal, iSPOT, for stock market infrastructure institutions (MIIs) to report technical issues.
The move is part of the market regulator's efforts to improve the quality and traceability of data submissions from entities like stock exchanges and clearing corporations.
The iSPOT portal will be integrated into the existing SEBI Intermediary (SI) portal for easy access.
Reporting enhancement
iSpot portal to streamline reporting process
SEBI has clarified that the main objective of the iSPOT portal is to simplify the reporting of technical glitches across MIIs. The new system will also act as a central repository for these issues.
At present, MIIs have to report any technical glitch with a Root Cause Analysis (RCA) over email. However, from February 3, 2025, they will have to submit it through this new portal.
Data improvement
Improving data quality and traceability
SEBI believes the new system will greatly improve data quality and traceability of historical submissions concerning technical glitches.
The iSPOT portal will also generate system reports for monitoring different compliance requirements in a more focused manner.
It will also issue automated notifications to MIIs for submission of RCA report within SEBI-defined timelines after the concerned MII submits a preliminary report.