Investor Risk Reduction Access (IRRA) is a platform jointly developed by stock exchanges as per the guidelines issued by SEBI vide circular no. SEBI/HO/MIRSD/MIRSD-PoD- 1/P/CIR/2022/177 dated December 30,2022. It is a cloud-based platform connecting to all stock exchanges which will be brought up on daily basis in a dormant state.

The IRRA platform has been developed to reduce risks faced by investors due to technical glitches on their end at both the primary site and disaster recovery site. Its main purpose is to provide investors the opportunity to square-off their existing positions as well as cancel their pending orders by using the IRRA platform.

Once migration happens, investors use their Unique Client Code (UCC) or PAN, and authenticate via a One-Time Password (OTP) sent to their registered mobile number and email.

TMs must ensure their clients’ contact details are up-to-date in UCC records.

Customer can perform the following actions:

a. View and cancel pending orders across all segments and all stock exchanges from the Order book.

b. View Net position screen.

c. Square off/close their open positions across all segments and all stock exchanges.

Customers can view below pages along with actionable on respective pages:

1. Order book screen: Refresh, Cancel, Cancel all & Close.

2. Trade book screen: Refresh & Close.

3. Net position screen: Refresh, Partial square off, Square off, Square off all & Close.

Note:

Partial square-off: You can edit the quantity field to close only a part of your position.

Square Off: Closes the entire position for the selected segment

Square Off All: Instantly closes all open positions across all segments

Customers will be able to log in to the IRRA platform and view the pending orders and they have an option to cancel those pending orders if required.

No, customer will not be able to modify the pending orders on the IRRA platform. However, they can cancel those pending order if needed.

No, the customers cannot place any fresh orders on the IRRA platform. It is strictly meant for viewing and managing existing positions and orders.

Post migration to IRRA platform customer shall be able to login on IRRA platform, cancel their pending square off order if any and place square off order at market price only.

If stoploss orders/targets orders placed by customers were sent to the Exchange before shifting to IRRA, then those order will be available on the IRRA platform. All pending stoploss/target orders will be cancelled by IRRA system if client has placed the square off order.

Migration to IRRA platform can happen in two ways:

a. By request: A trading member can request activation of IRRA for a customer

b. By Exchange: The stock exchange can also initiate IRRA activation based on their risk monitoring system

If a Trading Member faces challenges in conducting regular business due to technical glitches or unforeseen outages on both Primary and Disaster Recovery sites, they can request activation of the IRRA platform for limited purpose of allowing its clients to square off/close their open positions.

The IRRA platform is available for Trading Members supporting Internet Based Trading (IBT) and Security Trading through Wireless Technology (STWT) for their investors.

Access to the IRRA platform will be available to the investors over a new Internet Based Trading (IBT) web URL and Mobile application.  IRRA platform Link will be available on exchange’s website as well as Trading member’s website.

Once the service is enabled, customers shall be informed by the exchange of the availability of the service through email/SMS and a public notice on exchanges’ website.

Customer has to click on the IRRA link displayed on ICICI Direct platform (Website or mobile app) by entering Login id as UCC Code (i.e Match id) or PAN number along with OTP verification sent to their registered mobile numbers and email IDs for authorization.

IRRA has its own web-based and mobile trading platforms, separate from the Trading Member’s (TM) app or website.

a. Web: https://login.irra.live/stocks/jsp/irra/

b. Mobile App: Search “IRRA” on App Store or Play Store

c. Download links are also available on exchange and TM websites

Investors will receive notifications from IRRA platform via registered email and mobile number once migrated to IRRA. The Link for migration to IRRA shall be displayed over our Website & Mobile app as well.

If customers have already placed a GTT request on Trading member’s platform before migration to IRRA platform, then before reestablishing the system all the pending request placed i.e Single/OCO/Cover OCO shall be automatically cancelled by the system. Customers are requested to place their GTT request again once the system is restored.

No, Limited migration will not be allowed. TM has to fully restore services across all segments and exchanges and only then request for reverse migration can be placed by TM.

For more details, refer Exchange Circular NSE/ISC/58533 dated September 22, 2023.

Once reverse migration is initiated, IRRA sends notifications via email and SMS about the access being restored to their trading member’s platform.

After reestablishing the system, intraday orders shall be squared off first and for open positions in the derivatives (F&O and Commodity), the following sequence is followed for netting off:

1. Option Plus

2. Future Plus Stop Loss

3. Future Plus

4. Options

5. Futures

Kindly note that above sequence to be followed thereafter for netting off the open positions in derivatives segment

If a customer has already placed Flash trade with timer on the Trading member’s platform before migration to IRRA, and the timer expires before the migration, here’s what happens:

a. TM shall clear all existing flash positions/request.

b. Customers can continue to view the status of such positions from normal open positions page which is similar to when timer falls into non market hours on next day.

Customers are requested to place their fresh order request again once system is fully restored and operational.

If a customer has already placed algo orders on Trading member’s platform before migration to IRRA platform, then before reestablishing the system, all the algos (both active and in queue) will be stopped. Customers are requested to place their order request again once the system is restored.

If customers have placed orders in Spring on Trading member’s platform before migration to IRRA, the system will automatically stop all such Spring orders before restoring access. Customers are requested to place their order request again once system operational.