IT Resilience Index Framework for Market Infrastructure Institutions

This document is a circular outlining the IT Resilience Index (ITRI) framework for Market Infrastructure Institutions (MIIs). It emphasizes the importance of robust IT systems for the efficient functioning of the securities market, detailing the need for proactive monitoring and governance to mitigate risks. The circular specifies the parameters and weightages for computing the ITRI, which includes aspects such as availability, security, integrity, and governance. MIIs are required to compute the ITRI on a half-yearly basis and submit comparative analyses to their governing bodies. Additionally, the circular mandates the development of an Early Warning System to detect potential performance issues and stresses the continuous monitoring of service delivery to market participants. The implementation timeline for operationalizing the ITRI framework is set for February 28, 2027, with necessary amendments to relevant regulations to be made by MIIs.