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--SEBI releases paper on draft circular on data sharing policy for research

--SEBI mulls making market infra entities share data directly for research

--SEBI mulls halting sharing of data not under its ownership, for research

 

MUMBAI - The Securities and Exchange Board of India released a consultation paper Tuesday on a draft circular for data sharing policy for the purpose of research and analysis. The market regulator has proposed that it should not be sharing data that is not under its ownership. Instead, SEBI wants the market infrastructure institutions--stock exchanges, depositories, and clearing corporations--to take up the responsibility of sharing of data generated by the respective entity.

 

The market regulator introduced its data sharing policy in 2018 and has since handled several data requests. The proposals in the paper aim to streamline the policy and address certain gaps. Under SEBI's current data sharing policy, it can freely disseminate all reporting and disclosure data mandated by it on market infrastructure institutions and market intermediaries. Apart from this, SEBI can provide "anonymised data" at a charge.  

 

According to the draft circular proposed by SEBI, the market infrastructure institutions will have their own policy for sharing data for research purpose only. This will exclude data provided to vendors for commercial purposes. The draft circular requires the institution to segregate the data, under their respective policies, into two baskets. The first basket will include data which is already publicly available on the websites of the market infrastructure entities such as business growth in all segments, core settlement guarantee fund components, foreign portfolio investor investments, and others.

 

This basket, according to the draft circular, will also cover data which is voluminous and cannot be placed on the respective websites of the entities. This would encompass data such as intra-day index data, data for multiple years on margins and volatility, and historical data on daily volume, open interest, turnover, and other parameters.

 

The market regulator has proposed that up to 2 GB of data must be provided free of cost to a researcher. Beyond this volume of data, the entities will have the freedom to charge fee on a cost basis.

 

The second data basket will contain information that cannot be shared with the public such as know-your-client, trade logs, holding information of any investor. The market infrastructure entity can share this information to a researcher only after concealing the names and identities of the investors and other individuals.

 

SEBI has invited comments from the public on the proposals by Oct 29.  End

 

Reported by Rajesh Gajra

Edited by Vandana Hingorani

 

 

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