The Bombay Stock Exchange (BSE), on November 22, 2024, the issued a notification regarding the Online Reporting of Technical Glitch Incidents.
BSE has introduced an electronic process for stockbrokers and trading members to submit Technical Glitch information through the BSE Electronic Filing System (BEFS), effective December 2, 2024.
Key Details:
Submission Process:
Access the form via http://befs.bseindia.com → Technical Glitch > Technical Glitch Form.
Refer to Annexure A (user manual) for detailed guidance.
Incidents must also be reported to [email protected], applicable across all exchanges.
Reporting Timeline:
Technical Glitch Report: Submit within 1 hour of the incident.
Preliminary Report: Due by T+1 day.
Root Cause Analysis (RCA) Report: Submit within 14 days.
Additional Requirements:
Technical Glitch incidents exceeding 45 minutes must have RCA reports independently audited by an auditor appointed by the member.
Penalties apply for delays in report submissions.
Reference:
Refer to Exchange Circular 20230704-27 (dated July 4, 2023) regarding penalties for non-compliance with technical and cybersecurity requirements.
Members are urged to comply with these timelines and procedures to avoid penalties.
[Notification No. 20241122-52]
