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SEBI develops iSPOT portal for reporting technical glitches by stock exchanges, other MIIs
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2 min read | Updated on January 28, 2025, 18:07 IST
SUMMARY
The Securities and Exchange Board of India (SEBI) has launched iSPOT (Integrated SEBI Portal for Technical glitches) to centralise and streamline the reporting of technical glitches by Market Infrastructure Institutions (MIIs), replacing email-based submissions.
Effective February 3, 2025, iSPOT will facilitate the submission of preliminary and final root cause analysis (RCA) reports.. Image: Shutterstock
The Securities and Exchange Board of India (SEBI) has introduced a web-based portal named iSPOT (Integrated SEBI Portal for Technical glitches) to streamline the reporting and management of technical glitches by stock exchanges, clearing corporations, and depositories.
In a circular issued on Tuesday, SEBI stated that the new portal will replace the current practice of Market Infrastructure Institutions (MIIs) submitting reports on technical glitches and their root cause analysis (RCA) via email.
"In order to streamline the reporting process of technical glitches across MIIs and create a centralized repository of technical glitches, SEBI has developed a web-based portal, i.e., Integrated SEBI Portal for Technical Glitches (iSPOT), for submission of preliminary and final RCA reports of technical glitches by the MIIs," the SEBI circular read.
The iSPOT portal will serve as a centralised repository for such reports, improving data quality, traceability of submissions, and monitoring compliance requirements.
MIIs will be required to submit preliminary and final RCA reports of technical glitches through iSPOT, which has been integrated with the SEBI Intermediary (SI) portal for ease of access using existing login credentials. The portal will also generate automated reminders for compliance deadlines.
“This would help to improve the data quality, traceability of historical submissions related to technical glitches atthe end of SEBI and MIIs, system generated reports for monitoring of various compliance requirements in a more focused manner and automated intimation to MIIs for submission of RCA report within SEBI defined timelines pursuant to submission of preliminary report by concerned MII,” the regulator added.
The use of iSPOT for reporting technical glitches will be effective from February 3, 2025.
The regulator has directed MIIs to amend their bye-laws, rules, and regulations as needed to ensure compliance with the new system.
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