Implementation of Near Site (NS) at NSE IX - the first and
only Stock Exchange in IFSC to successfully implement its Near Site
The Hindu Business Line
NSE International Exchange implements Near Site for disaster recovery, enhancing operational continuity in IFSC
NSE International Exchange (NSEIX) is pleased to announce that it is the first and only Stock Exchange in IFSC to successfully implement its Near Site from 14 April 2025. This is in compliance with the IFSCA guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) for Market Infrastructure institutions (MIIs) and in line with our ongoing commitment to uphold the highest standards of infrastructure and for providing worldclass eco-system to all market participants. This milestone marks a significant step in strengthening our disaster recovery capabilities and ensuring seamless continuity of operations under adverse conditions. With this implementation, NSE IX has set a benchmark for compliance and technological preparedness in alignment with evolving regulatory compliances and safeguarding market operations. The International Financial Services Authority (IFSCA) has provided Guidelines for Business Continuity Plan (BCP) and Disaster Recovery (DR) for Market Infrastructure institutions (MIIs) for all Stock Exchanges and Clearing Corporations in the International Financial Services Centres (IFSC) Heading: - Implementation of Near Site (NS) at NSE IX - the first and only Stock Exchange in IFSC to successfully implement its Near Site Source: - Various Publications Date: - 17 April 2025 through its circular reference no. IFSCA/CMD-DMIIT/DR/774/2022/01 dated November 16, 2022. As per the IFSCA prescribed framework for Business Continuity Plan (BCP) and Disaster Recovery Site (DRS) for the MIIs in the IFSC, apart from DRS, the MIIs shall also have a Near Site (NS) to ensure zero data loss. NSE IX extends its sincere gratitude to the IFSCA for its continued regulatory guidance and support. We also acknowledge the invaluable cooperation of telecom providers and technology vendor partners whose support was instrumental in the successful set-up of Near Site. Trading turnover on NSE IX has been growing exponentially since commencement of a full-scale operation of GIFT Nifty on July 3, 2023. Since the first day of full-scale operations, as of 15 April 2025, GIFT Nifty has witnessed a total cumulative volume of over 39.88 million contracts with a total cumulative turnover of US $1.76 trillion (~INR 151.10 trillion) and held a dominant market share of ~99.7% highlighting NSE IX-s extensive leadership in GIFT IFSC.
Updated on: 13/05/2025
