Investor Risk Reduction Access (IRRA)

Recently launched Investor Risk Reduction Access (IRRA) platform acts as a ‘safety net’ for investors registered with SEBI.

Need – There is rise in instances of glitches in trading members’ systems making the investors with open positions at risk.
Launched by – SEBI (Securities and Exchange Board of India)
Developed by – It has been jointly developed by all the stock exchanges of India
- BSE (Bombay Stock Exchange)
- NSE (National Stock Exchange)
- NCDEX (National Commodity and Derivatives Exchange Limited)
- MCX (Multi Commodity Exchange of India Ltd)
- MSE (Metropolitan Stock Exchange of India)
Objectives
- To reduce risks faced by investors during technical glitches at both the primary and disaster recovery site.
- To provide an opportunity to square off/close their open positions and cancel pending orders.
Working
- It can be invoked by trading members or suo moto by stock exchanges.
- It downloads trades information from all the trading venues.
- It sends SMS/email to investors with IRRA access link over an Internet-based Based Trading (IBT) web URL and an app.
- Investors can access through a secure login system using their Unique Client Code (UCC) or investor’s PAN number.
Reverse migration - Based on the trading member’s request and confirmation from all exchanges, the IRRA will be shut down and enable to resume business from the original trading system.
Only 1 reverse migration will be allowed during a trading day.
Limitations – It is not meant for taking fresh positions or orders, and is not available for algo trading, Institutional clients.

Squaring off is a trading style that, day trade investors use to make profit from the market volatility.

Source:

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