The Bombay Stock Exchange (BSE) on September 07, 2022, reference to the SEBI circular no. SEBI/HO/MIRSD/DOP/P/CIR/2022/117 dated September 02, 2022 (Annexure 1), regarding performance/return claimed by unregulated platforms offering algorithmic strategies for trading.
The following actions should be avoided by members who offer algorithmic trading services or techniques as well as members who are featured on any unregulated sites providing such services:
a.directly or indirectly make any reference to the past or expected future return/performance of the algorithm, and/or
b.directly or indirectly associated with any platform providing any reference to the past or expected future return/performance of the algorithm.
c.Members who are directly/indirectly referring to any past or expected future return/performance of an algorithm or are associated with any platform providing such reference, shall remove the same from their website and/or disassociate themselves from the platforms providing such references, as the case may be, within seven days i.e., by September 09, 2022.
Members are advised to ensure compliance of the above-mentioned requirement and provide an undertaking for confirmation of the compliance along with the proof by October 10, 2022, through BEFS (BSE Electronic Filing System).
[Notification No. 20220907-46]
