MCX circular on-Review of Framework to address the ‘Technical Glitches’ in Stock Brokers’ Electronic Trading Systems

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Date of Issue: 09-01-2026  
          
Issuer: MCX

Review of Framework to address the ‘Technical Glitches’ in Stock Brokers’ Electronic Trading Systems

Highlights of  MCX Circular dated January-09 -2026

This is with reference to the SEBI circular no. SEBI/HO/ 38/44/12(1)2026-MIRSD-TPD1, dated January 9, 2026, regarding Review of Framework to address the ‘technical glitches’ in Stock Brokers’ Electronic Trading Systems. The circular is enclosed herewith for ready reference.

In view of the above mentioned SEBI circular and as advised by SEBI, Stock Exchanges have jointly framed detailed guidelines on – definition of Technical Glitch, applicability of framework, Capacity Planning, Software Testing & Change Management, Business Continuity Planning (BCP) & Disaster Recovery Site (DRS) and Monitoring Mechanism which is mentioned as Annexure – 1.

Further, the revised financial disincentives structure for technical glitch incidents at Stock Brokers/Trading Member’s electronic trading system is mentioned as Annexure A. The reporting formats of preliminary incident report and Root Cause Analysis (RCA) is mentioned as Annexure B & C respectively.

The provisions of the circular will come into immediate effect from January 09, 2026

Members are requested to take note of the above and ensure compliance.

In case of any clarification or assistance required in the implementation of this circular, you may contact : Kaushik Jethwa at kau...@secmark.in and 9870210171