SEBI discontinues IRRA backup trading platform
→Stock exchanges must shift broker-disruption fallback planning away from IRRA
Change
On 2026-05-07, SEBI discontinued the Investor Risk Reduction Access platform with immediate effect and advised stock exchanges to review the Contingency Pool Trading facility to strengthen broker-disruption fallback arrangements.
Why it matters
SEBI said the IRRA platform had become structurally redundant because stock brokers now operate under stronger BCP-DR, cyber resilience, technical-glitch and contingency trading frameworks. The circular supersedes the 2022 IRRA circular and moves the fallback focus to exchange contingency arrangements.
Implications
- → Stock exchanges must stop treating the IRRA platform as an available broker-disruption access route because SEBI has discontinued it with effect from 7 May 2026.
- → Stock exchanges must disseminate the circular to stock brokers so broker continuity planning reflects the withdrawal of IRRA.
- → Stock exchanges should review the Contingency Pool Trading facility to strengthen the framework used for squaring off clients’ open positions during broker business disruptions.
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Source
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