SEBI Comes Out With Testing Framework For IT Systems Of Stock Exchanges

SEBI Comes Out With Testing Framework For IT Systems Of Stock Exchanges

New Delhi:

Capital markets regulator SEBI on Friday put in place a complete testing framework for the data expertise (IT) techniques of the inventory exchanges and different market infrastructure establishments (MIIs).

The framework might be for the IT techniques of MIIs — inventory exchanges, clearing firms, and depositories — all through their lifecycle, which might help the MIIs in performing thorough threat evaluation earlier than deploying any IT techniques in manufacturing or stay setting.

Under the framework, all MIIs have been requested to do intensive testing, validation, and documentation each time new techniques or adjustments to current techniques are launched earlier than the deployment within the manufacturing/stay setting, in line with a round.

Further, they should arrange a complete methodology for system testing, practical testing, and software safety testing, and the identical must be authorized by the Standing Committee on Technology (SCOT) of respective MIIs.

The scope of testing consists of overlaying enterprise logic, system perform, safety controls, and system efficiency beneath load and stress circumstances. Moreover, any dependency on the present techniques shall be correctly examined.

“Testing needs to be carried out in a separate setting that replicates/mirrors the manufacturing setting to attenuate any disruption,” Sebi stated.

According to the regulator, all points recognized from testing, together with system faults or software program bugs, needs to be correctly tracked and remediated instantly.

Moreover, main points that might damage the MII needs to be reported to their SCOT and addressed earlier than deployment to the manufacturing setting.

In addition, MIIs have been requested to determine insurance policies and procedures on the usage of third-party techniques or software program codes to make sure these techniques are topic to evaluation and testing earlier than they’re built-in with their techniques.

MIIs have been directed to carry out white field testing or structural testing, which incorporates analysing information movement, management movement, data movement, coding practices, exception, and error dealing with throughout the system.

Further, they’ve been requested to submit the testing framework of all their IT techniques after approval of SCOT inside 30 days.

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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