“We are going to set up a working group that will look at how this will be our next technological frontier in our exchanges,” Pandey told reporters on the sidelines of the 11th International Convention of the Commodity & Capital Participants Association of India (CPAI).The technological frontier refers to the application of advanced technologies to enhance market surveillance, improve operational efficiency and strengthen investor protection.
Pandey emphasized that technological robustness is crucial and noted that Sebi takes any stock exchange-related disruption very seriously.
While he acknowledged that disruptions may occur due to rapid technological change, he emphasized the need for stronger safeguards.
To address technical deficiencies, Pandey said, exchanges are needed to conduct detailed root cause analyzes and submit comprehensive standard operating procedures (SOPs) and corrective actions. Replying to a question on the recent MCX outage, Pandey said whenever a technical glitch occurs on an exchange, Sebi follows a well-defined standard operating procedure, including imposing stringent penalties if the issue crosses certain thresholds.
He further said that the regulator looks at such incidents from a systemic perspective by analyzing the root causes of all exchanges.
“By identifying commonalities in these issues, we aim to understand how we can better secure and strengthen our market technology,” Pandey added.
#Sebi #form #working #group #technological #frontier #stock #exchanges