Sebi directs MIIs to adopt uniform policy on data sharing for research

Mumbai, Dec 20, 2024

These market infrastructure institutions (MIIs) have been asked to segregate such data into two baskets-one that can be shared with the public and the second that cannot be made public

The market regulator Securities and Exchange Board of India (Sebi) on Friday directed stock exchanges, clearing corporations, and depositories to adopt a uniform policy for sharing data meant for research and research publications undertaken by accredited academic institutions.

These market infrastructure institutions (MIIs) have been asked to segregate such data into two baskets—one that can be shared with the public and the second that cannot be made public.

The first basket will include only aggregate and analysed data, such as reporting and disclosure data mandated by regulators. Sebi stated that the segregation is intended to prevent the disclosure of any personal, sensitive, or confidential information in the public domain.

The second basket includes know-your-customer (KYC) information, trade logs, and holding details of an entity or individual, along with the identity of the entity or individual. Further, even anonymised data that could potentially identify the individual or entity will not be shared in the public domain.

For instance, currently anonymised data is available for certain segments, such as client-wise position or margin data and details on approved hedgers. These will not be available going forward. Any collateral or bank-wise collateral information present with the clearing corporations will also fall under the second basket.

The MIIs have been directed to share the list of data under each basket with Sebi for approval within two months.

However, data shared with vendors for commercial purposes will not fall under this policy.

[The Business Standard]