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Corporate Laws Central Ministry of Finance Securities and Exchange Board of India Act, 1992

Policy for Sharing Data for the Purpose of Research or Analysis

20-Dec-2024 | SEBI/HO/DEPA-II/DEPA-II_SRG/P/CIR/2024/178

Securities and Exchange Board of India (SEBI) has issued a Circular on policy for sharing data for the purpose of research or analysis wherein: 1. Securities and Exchange Board of India (SEBI) has issued a circular advising all stock exchanges, depositories, and clearing corporations in India to share data for research and analysis purposes. 2. The circular advises them to disseminate mandatory reporting and disclosure data in a downloadable format, with chargeable data appropriately identified in the public domain. The data sharing policy, which includes anonymized data, was determined by the SEBI Market Data Advisory Committee (MDAC) to ensure data authenticity, adequacy, and privacy. 3. The policy now outlines a uniform policy for sharing data separately for research publications by accredited academic institutions. Stock Exchanges, Depositories, and Clearing Corporations are advised to segregate data into two baskets: public aggregate and analyzed data, which includes reporting and disclosure data mandated by regulators, and voluminous data that cannot be placed on the respective websites of the Market Infrastructure Institutions (MIIs). 4. The second basket contains information that cannot be shared with the public, such as KYC information, trade logs, and holding details of an entity or individual. 5. All companies are advised to identify and frame their data sharing policy accordingly.

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