LAMA Reporting: How can Site24x7 save the day?
When the National Stock Exchange of India (NSE) deliberated on an approach to making cloud computing accessible and compliant to handle brokerage systems, the questions that needed immediate attention were:
- How to handle technical glitches during peak trading hours?
- What would it take for stock brokers to use cloud computing to navigate the intricate world of trade and investment without revenue loss?
The Securities and Exchange Board of India (SEBI) then introduced a mandatory implementation of the cloud adoption framework called Log Analytics and Monitoring Applications (LAMA) to baseline and secure SEBI-regulated entities. SEBI introduced the LAMA framework to stringently monitor willful and vicious disruption of digital transactions during a stock exchange and to prevent business loss.
What is LAMA?
LAMA is an API-based logging and monitoring mechanism devised to address the concerns of the stockbroker's infrastructure. It uses ML to analyze patterns in the trading infrastructure to detect and flag a potential setback that could cause an outage. According to the SEBI-mandated guidelines, LAMA not only alerts glitches in the hardware, software, and networks but also the processes and services of each system. Since SEBI is actively involved in compliance checks with regulated entities (RE), they need to establish an active monitoring posture to meet the SEBI-set guidelines and avoid heavy penalties.
Challenges in following the SEBI guidelines
Among the various guidelines set by SEBI, a few pivotal ones include:
- A strict security posture
- A five-minute polling frequency to report the happenings in your environment, monitoring infrastructure as a whole and not just the software, and hardware components
- Any latency and variedness in response to an operation should be flagged and reported as a glitch
- A detailed RCA encompassing the details of the "technical glitch" is to be generated for future monitoring purposes
Now, to incorporate the above-said requirements, REs or stock broker firms must have a single-pane view of their infrastructure, applications, and logs. Obtaining comprehensive visibility into one's entire technical environment is paramount when dealing with high-risk financial setups and transactions.
The idea of in-depth visibility is still a faraway concept in most brokerage firms. Many REs do not have an adequate monitoring setup to regulate and report the required information to SEBI. An integration with Site24x7 and the LAMA framework will provide stock brokers with exactly that.
How can Site24x7 help?
Site24x7's LAMA framework integration will aid in making your organization SEBI complaint. Apart from fulfilling all your SEBI checklists, it also offers you an extensive LAMA report encapsulating the server, application, and network metrics to help you filter out and exactly pinpoint the server/application that is facing aberrations. You can now categorically segregate and get alerts about your server, networks, and applications to know granular updates about each element. Site24x7 drills down to the specific components involved in the anomaly and notifies you to proactively prevent an occurrence before LAMA highlights the breaches in incident alerts for corrective measures. With a data retention of 30 days, this report enables you to revisit alerts triggered for past outages and effectively prevent any similar future occurrences.
Stay ahead of the curve with Site24x7
Stockbrokers need a tool to delegate the tedious workload of overlooking finer trading parameters, which is essential to keep the stock exchange running. A competent observability tool like Site24x7, which is a forerunner in LAMA integrations in India, can take over monitoring actions and API calls. Meet eye-to-eye with LAMA guidelines and stay SEBI-compliant with Site24x7. To integrate LAMA reach out to us via support@site24x7.com, this integration is enabled only on request.
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