The Investor Risk Reduction Access (IRRA) platform is a facility provided by exchanges to brokers' clients, aiming to act as a 'safety net' for investors in case of technical glitches faced by trading members.
The platform is conceptualized and implemented by Market Infrastructure Institutions (MIIs) under the guidance of the Securities and Exchange Board of India (SEBI).
The IRRA platform is available to trading members supporting internet-based trading and security trading through wireless technology for their investors. However, it is not available for all trading and institutional clients.
The main objective of the IRRA platform is to reduce risks faced by investors in the event of technical glitches at trading member ends at both primary and disaster recovery sites.
When a trading member faces a technical glitch, they can invoke the IRRA platform. After basic checks, the platform downloads trades of the trading member from all trading venues and sends SMS/email to investors using internet trading or wireless technology, along with a link to access IRRA.
Investors can review the status of their investment and place orders for squaring off or closing positions using this link.
SEBI Chairperson Madhabi Puri Buch launched the IRRA platform on Monday at the Bombay Stock Exchange (BSE) and emphasized the importance of protecting investors' funds and ensuring their positions are protected.
She also advised investors to adopt a long-term approach to investments, where there is a high probability of wealth creation, rather than losing money on a daily basis in the Futures and Options (F&O) segment
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