SEBI Constitutes Market Data Advisory Committee for regulation of Data Culture

SEBI Constitutes Market Data Advisory Committee for regulation of Data Culture

The Securities and Exchange Board of India (SEBI) has constituted a Standing Committee called the Market Data Advisory Committee (MDAC), to recommend appropriate policy for access to securities market data, identify segment wise data perimeters, data needs and gaps, recommend data privacy and data access regulations applicable to market data, etc.

The Committee is chaired by Ms. Madhabi Puri Buch and also has Whole Time Member and CEOs of stock exchanges and depositories, representatives of various stakeholders and senior officials of SEBI as members.

Through this Press Release, it has also been put forth that non-private data is a "Public Good' and that access to high quality standardized data on various securities market activities is essential for fostering market transparency, operational efficiency and innovations in Indian securities market.

The SEBI initiative makes shareable data on the Indian securities market, available for researchers, policy makers, general public alike and to enhance the quality of such data.

SEBI Data Sharing Policy is one such initiative which intends to facilitate access to Data from SEBI to meet a variety of requirements, viz. to undertake Analytics Projects, Research Activities, etc. by various Educational/Research Institutions and other regulators. It is aimed at streamlining the process of Data sharing and formalization of Data protection measures to prevent Data from misuse and unauthorized access.

Another initiative to facilitate easy access to markets data and to encourage data backed research in Indian securities market, is the presence of Curated Links for Securities Market Data on the SEBI website which provides curated links of publicly available data on various segments of the Indian securities market at one place.

SEBI has also been working together with Market Infrastructure Institutions (MII) to further enhance the quantum, granularity, uniformity, ease of accessibility and usability of public data provided by MIIs (Stock and Commodity Exchanges, Clearing Corporations and Depositories).

This exercise enables provision of data by MIIs in consolidated, common, downloadableand merge-able data formats, including for non-sensitive granular data. MIIs have also started uploading data on their respective websites on a monthly basis for the period starting from Financial Year 2015-16 onwards. This Data pertains to trading, clearing and settlement data on equity, equity derivatives, currency derivatives and interest rate derivatives, commodity derivatives segments by Stock and Commodity Exchanges; and data on issuers, aggregate beneficial owners, etc. by Depositories.

One more significant feature is the Reorganization of Data Resources. In order to enhance the experience of accessing market statistics and other related resources viz. research, publications, statistics, reports etc. on SEBI website, these resources have been consolidated and made available at one place in "Reports & Statistics" tab on SEBI Website Home Page.

SEBI, in this Press Release, has also mentioned that it will continue to work with MIIs and other market participants in furtherance of this Data Culture in the Indian Securities Market.