Data Sharing
SEBI changes data sharing policy, shifts onus to mkt infra cos from itself
This story was originally published at 19:58 IST on 20 December 2024
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NEW DELHI – The Securities and Exchange Board of India Friday overhauled the data sharing policy for the purpose of research and analysis. In a circular, SEBI shifted the onus of sharing of data for research papers from itself to market infrastructure institutions – stock exchanges, depositories, and clearing corporations.
SEBI introduced the data sharing policy in 2018 and has since handled several data requests. Under this policy, SEBI can itself disseminate all mandated reporting and disclosure data. While this will continue under the overhauled policy, the market regulator will not share chargeable 'anonymised' data under its ownership for research.
In Friday's circular, SEBI said that exchanges, depositories, and clearing corporations would have their respective policy for sharing data for the purpose of research only. This will exclude data provided to vendors for commercial purposes.
The exchanges, depositories, and clearing corporations will segregate the data, under their respective policies, into two baskets. The first basket will include data that is already publicly available on the websites of market infrastructure entities such as business growth in all segments, core settlement guarantee fund components, foreign portfolio investor investments, and others.
This basket will also cover data that is voluminous and cannot be placed on the respective websites of the entities, such as intra-day index data, data for multiple years on margins and volatility, and also historical data on daily volume, open interest, turnover, and other parameters. Up to 2 GB of data would have to be free and above 2GB, 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, and holding information of any investor. The market infrastructure entity can share this information with a researcher only after concealing the names and identities of the investors and other individuals and entities.
In the circular, SEBI directed exchanges, depositories, and clearing entities to identify data in the two baskets within 60 days, and the same will also have to be reviewed annually or on a need basis. End
Reported by Rajesh Gajra
Edited by Avishek Dutta
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