SEBI Launches iSPOT Portal to Simplify Reporting of Technical Issues

The Securities and Exchange Board of India (SEBI) has introduced the Integrated SEBI Portal for Technical Glitches (iSPOT), a new system designed to simplify how technical issues are reported in India’s financial markets.

Set to replace the older email-based method, iSPOT will provide a more organized, efficient, and transparent way for Market Infrastructure Institutions (MIIs) like stock exchanges and clearing corporations to report technical glitches. The portal is scheduled to go live on February 3, 2025, bringing substantial improvements in the management and reporting of such issues.

This initiative is part of SEBI’s broader efforts to modernize market infrastructure and ensure smoother operations. With iSPOT, MIIs will be able to submit comprehensive reports of technical problems, including root cause analysis (RCA). The centralized system will help track and resolve issues more quickly, benefiting the entire securities market ecosystem.

Key Features of the iSPOT Portal

Centralized Reporting System

iSPOT enables MIIs to submit both preliminary and final RCA reports for technical glitches. By centralizing these reports, SEBI ensures all incidents are stored in one easily accessible repository, facilitating faster resolutions and greater transparency.

Integration with SEBI’s Existing SI Portal

The iSPOT portal integrates seamlessly with SEBI’s existing Intermediary (SI) portal. MIIs can log in using their current credentials, making the transition simple and efficient, with minimal need for training or adjustments.

Automated Compliance Monitoring

iSPOT features an automated compliance monitoring system that sends reminders about compliance deadlines. This reduces the chances of manual errors and improves the overall oversight of technical issues.

Launch and Transition Period

iSPOT is set to officially launch on February 3, 2025. From this date, MIIs must use the portal to report any technical glitches. MIIs will also undergo a transition period to amend their bylaws, rules, and regulations to align with the new system.

This transition is part of SEBI’s ongoing commitment to maintaining a strong, compliant market infrastructure. By moving from the outdated email system to the new structured portal, SEBI aims to improve the timeliness and effectiveness of glitch reporting and resolution.

Enhancing Transparency and Efficiency

The launch of iSPOT marks a major step forward in boosting transparency within India’s securities market. With all technical glitch reports stored in one centralized system, market participants will have access to detailed insights about issues and their resolutions. This increased transparency will foster greater trust among investors and market participants, ultimately making the market more resilient to operational disruptions.