The Investor Risk Reduction Access (IRRA) Platform

Introduction:

• The IRRA platform is a new system developed by Indian stock exchanges, including BSE and NSE.
• It aims to safeguard investors against risks from technical glitches at a trading member or stock broker’s end.

Function:

• To act as a safety net, allowing investors to close open positions and cancel pending orders during technical disruptions.
• It is designed only for canceling pending orders, not for initiating new ones.
• Not available for algorithmic trading and institutional clients. Certain securities aren’t available for square-off.

Why in News:

• Recently, the Investor Risk Reduction Access platform has been developed by Indian exchanges.