The National Stock Exchange of India (NSE) has unveiled the Investor Risk Reduction Access (IRRA) platform. This tool, a collaborative effort among all exchanges, will empower investors to square off outstanding positions on a common platform. IRRA will be provided jointly by all exchanges, fostering a unified approach to risk reduction for investors.
Starting from October 3, 2023, trading members (TMs) across various exchanges will have access to IRRA.
IRRA will serve as a fail-safe option for trading members. In cases of primary site or disaster recovery site failures, they will be able to rely on IRRA to manage their positions. Notably, IRRA will not cater to algo trading and institutional clients, focusing primarily on individual investors.
IRRA's primary function will be to facilitate the squaring off of open positions and the cancellation of pending orders. However, it is important to note that it will not support the initiation of fresh positions or the placement of new orders.
This significant step by NSE India marks a milestone in risk management and position handling within the stock market. IRRA promises to enhance the safety and efficiency of trading operations for investors and trading members alike.
First Published: Sept 16, 2023 2:32 PM IST
