• SEBI introduces iSPOT, a dedicated portal for market infrastructure institutions (MIIs) to report technical glitches, aiming to improve data quality, reporting, and traceability.
  • Starting February 2025, MIIs must use iSPOT to submit Root Cause Analysis (RCA) reports, replacing the previous email-based system, and ensuring better compliance and tracking.

The Securities and Exchange Board of India (SEBI) has introduced a dedicated portal for market infrastructure institutions (MIIs), including stock exchanges and clearing corporations, to report technical glitches.

This initiative aims to improve the quality of data, make the reporting process smoother, and enhance the traceability of past issues. iSPOT will be integrated into the existing SEBI Intermediary (SI) portal for easier access. The portal is designed to standardize how glitches are reported and create a centralized system to track technical problems.

In a circular dated January 28, SEBI stated:

"In order to streamline the reporting process of technical glitches across MIIs and creation of 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."

Currently, MIIs report technical issues and their Root Cause Analysis (RCA) to SEBI via a designated email. However, from February 3, 2025, when the new guidelines take effect, all submissions will be required to be made through iSPOT.

According to SEBI, the portal will facilitate improved tracking and monitoring of compliance requirements. It is also expected to enable automated notifications for MIIs, ensuring timely submission of RCA reports following preliminary assessments.

According to SEBI, the system "would help to improve the data quality, traceability of historical submissions related to technical glitches at the 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 launch of iSPOT underscores SEBI’s continued efforts to enhance oversight and regulatory efficiency in market infrastructure, ensuring a more structured approach to handling technical disruptions.

Edited by Harshajit Sarmah