This is with reference to SEBI circular SEBI/MIRSD/DOS2/2019/10 dated January 04, 2019 regarding reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries.
As per communication received from SEBI, members are hereby informed that timeline for reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems shall be revised and the below mentioned timelines will be followed with immediate effect:
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Intermediary
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Current Timeline for reporting of AI/ML applications
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Revised Timeline for reporting of AI/ML applications
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Trading Members using Algorithm software
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Quarterly basis within 15 calendar days of the expiry of the quarter
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Half yearly basis within 15 calendar days of the expiry of the half year
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Other Trading Members
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Annually within 15 calendar days of the expiry of a year
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Kindly note that requirement of reporting of AI/ML based application or system is defined in Annexure B and reporting format is provided in Annexure A of SEBI circular SEBI/MIRSD/DOS2/2019/10 dated January 04, 2019, and continues to remain the same.
The submission of AI/ML applications is mandatory for all active Trading Members of the Exchange (i.e. those who have executed even a single trade during the half year/annual period as mentioned above) irrespective of whether they are using AI/ML systems or not. The Trading Members who are not using AI/ML systems are also required to report NIL submission. Kindly note that the next submission will be applicable for the half year /annual period ending March 31, 2024.
Trading Members are advised to take note and comply with the above guidelines.
In case of any clarifications, members may contact us on details given as under:
For and on behalf of BSE Ltd.
Jyoti Thukral Josephine Baretto
Sr. Manager Manager
Inspection Inspection |