SEBI/HO/DEPA - II/DEPA - II_SRG/P/CIR/2024/178

regulations · 1992 · State unknown

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Parent: THE SECURITIES AND EXCHANGE BOARD OF INDIA ACT, 1992 (7c4c1f5343adab106c3a94cafc08a5ecf5957ae7)

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CIRCULAR SEBI/HO/DEPA - II/DEPA - II_SRG/P/CIR/2024/178 December 20, 2024 To All Recognized Stock Exchanges, All Depositories, All Clearing Corporations , Dear Sir/Madam, Subject – Policy for Sharing Data for the Purpose of Research / Analysis Vide SEBI Circular No. SEBI/HO/DEPA -III/DEPA -III_SSU/P/CIR/2022/25 dated February 25, 2022 on " Approach to securities market data access and terms of usage of data provided by data sources in Indian securities market" , all market intermediaries and other data sources in Indian securities markets were advised to freely disseminate various reporting and disclosure data that are mandated by the regulators in a downloadable format. It was also advised that, apart from the data made available free of cost, data which is chargeable should be appropriately identified as such in the public domain. SEBI has a data sharing policy to share anonymised data that is not publicly available . However, since SEBI is not the originator of most of the market data, the scope of sharing data under the extant data sharing policy of SEBI was deliberated by the SEBI Market Data Advisory Committee (MDAC). One of the issues discussed by MDAC was the authenticity and adequacy of data, together with data privacy. It was suggested that the stakeholders need to be able to source the requisite data from the original sources. MDAC further suggested that in order to achieve the balance between data privacy vis-a-vis providing access to data, organizations , which are actual source of data, will need to have a policy on data collection, processing, storage, dissemination and sharing . Accordingly , it has now been decided to have a uniform policy for Stock Exchanges, Clearing Corporations and Depositories respectively, for sharing data separately for only rese

Rule TOC

3 · 1.Data in the first basket will be those which can be shared with the public. These should be aggregate and analysed data only. This basket shall also include reporting and disclosure data that are mandated by the regulators. The principle should be to avoid disclosing any personal, sensitive or confidential information in public domain. Data in this basket will include the following:

3 · 1.1 Data which is publicly available on respective website of each Stock Exchange, Depository and Clearing Corporation .

3 · 1.2 Data which is voluminous and cannot be placed on the respective websites of the MIIs. An indicative list of such data (including shareable anonymised data that cannot be used to identify an individual/ entity directly or indirectly) , would be made available on the portals and MIIs would provide a reasonable amount of data requested by a researcher free of cost (upto 2 GB of data per researcher per year that requires no extra computation). However, if the requested data is very high in volume and/ or needs further processing/ value addition , MIIs may charge a cost-basis fee from the researcher to process and provide such data.

3 · 2.Data in the second basket will contain information that cannot be shared with the public. These data would include, for instance, KYC information / trade logs / holding details of an entity/ individual , etc. with the identity of the entity/ individual . This would also include anonymised data that could be used to identify an individual/ entity directly or indirectly.

10 · This Circular is available at www.sebi.gov.in under the link “Legal ---Circulars”.

1 · First Basket

2 · Second Basket