This is with reference to SEBI circular no. SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 dated January 4, 2019 and Exchange notice no. 20190107-8 dated January 7, 2019 regarding “Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries”.
Further, Exchange vide notice no. 20231212-50 dated December 12, 2023 had informed that the timeline for reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems has been revised.
Accordingly, Trading Members are required to submit the details on the captioned matter for the period ending March 31, 2024, as per the applicability criteria given below:
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Intermediary
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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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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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Link of BEFS for submission is as given below:
https://befs.bseindia.com/ -> Reporting Form (A I M L)
Trading Members, who are offering or using applications or systems as defined in Annexure ‘B’ to aforesaid SEBI Circular are required to submit the details in AI/ML Reporting Form. Further, Trading Members who are not offering or using the applications or systems as defined in Annexure ‘B’ are also required submit the AI/ML Reporting Form by selecting the option as “No” in BEFS.
It may be noted that submission of AI/ML details shall be considered complete only after Trading Member submits the same to the Exchange through BEFS and receives an acknowledgment email. Details submitted in physical form or through email will not be considered as submission to Exchange.
Annexure ‘B’ and User Manual is attached on the top right after clicking on the module in BEFS.
Trading Members may note that the aforesaid details for the period ending March 31, 2024, must be submitted electronically through BEFS (BSE Electronic Filing System) by April 15, 2024.
In case of any query, please contact following officials:
For and on behalf of BSE Ltd.
Hiteshkumar Desai Josephine Baretto
General Manager Manager
Inspection Inspection |