The National Stock Exchange (NSE), o June 30, 2023, released a notification on reporting for AI and ML systems and apps provided and utilised by market intermediaries.
Regardless of whether they use AI-ML systems or not, all active Members of the Exchange, those who have executed even a single trade during the quarter, from April 1, 2023, to June 30, 2023 are required to submit AI-ML details.
The members who are not using AI-ML systems are also required to report NIL submissions. Kindly note, submission of AI-ML reporting should be done through the ENIT module, the ENIT link for submission shall remain active from July 01, 2023, till July 15, 2023.
The user manual for the submission of AI-ML data or NIL reporting is as attached in Annexure I.
Failure to report AI-ML details within the prescribed timeline, would be treated as non-compliance and attract a penalty of Rs. 10,000/- each quarter in accordance with circular ref. no. NSE/INSP/53530 dated September 02, 2022.
[Notification No. NSE/COMP/57360]
