Discontinuation of Investor Risk Reduction Access (IRRA) platform

Category	Details
Title / Headline	Discontinuation of Investor Risk Reduction Access (IRRA) platform
Circular Reference No.	HO/38/44/12(3)2025-MIRSD-TPD1/I/10705/2026
Issuing Authority	Securities & Exchange Board of India (SEBI)
Effective From	May 07, 2026
Purpose	SEBI has announced the immediate discontinuation of the Investor Risk Reduction Access (IRRA) platform. Originally launched in 2023 as a “safety net” for investors to square off positions during broker technical glitches, the platform is now considered structurally redundant due to superior technological safeguards.
Interpretation of Circular	The decision stems from the fact that the platform has remained largely unused because more robust systems have taken its place. SEBI highlighted several key advancements that now provide better business continuity: – Contingency Pool Trading Facility: A reliable mechanism where brokers use dedicated terminals within Stock Exchange premises to manage client positions during disruptions. – Enhanced BCP-DR Frameworks: Improved Business Continuity Planning and Disaster Recovery protocols that allow brokers to switch to alternate sites seamlessly. – Strengthened Cyber Resilience: New frameworks like the Market Security Operations Centre (M-SoC) that proactively handle technical and security threats. – Technological Maturity: The emergence of “independent cold sites” and better failover mechanisms within the brokers’ own infrastructure. Stock Exchanges have been advised to further review and strengthen the Contingency Pool Trading facility to ensure it remains a robust “plan B” for the market.
Impact on Clients (BOs)	Note that in the event of a broker-side disruption, you should now rely on the broker’s established backup channels or the Exchange’s contingency trading protocols.

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