SEBI to NSE: Fix problem & take responsibility, Stricter norms imposed

Why did NSE not move to the disaster recovery site on the fateful day of the glitch, is still the question many want answered. The market regulator SEBI to remove ambiguity has come out with strict norms for an action plan for exchanges if any such incident occurs again.

The stock exchange will now be required to announce a 'disaster' within 30 minutes of disruption of critical systems, according to the Securities and Exchange Board of India. After declaring such a ‘disaster’ the exchange will have to take measures to restore operations, including from the recovery site, within 45 minutes.

A month after the market halt SEBI has made it clear that market infrastructure institutions will ensure there is no data loss for more than 15 minutes, while they should work to avoid any loss.