Alerts & Updates 23rd Sep 2025

Consultation Paper – Review of Framework to address the ‘technical glitches’ in Stock Brokers’ Electronic Trading Systems’

Authors

KC JacobPartner | Mumbai
Shourya TanaySenior Associate | Mumbai
Mridula BhatAdvocate | Mumbai

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SEBI has released a consultation paper on September 22, 2025, proposing revisions to the framework addressing ‘technical glitches’ in stockbrokers’ electronic trading systems. The key proposals include narrowing the definition of a technical glitch to trading-related malfunctions during market hours, applicability only to brokers with over 10,000 clients, streamlined reporting through a common portal, enhanced capacity planning and software testing requirements, and exemptions for smaller brokers from BCP/DRS obligations. The circular, once finalized, will come into effect from November 1, 2025.

Read the detailed update here

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