The Bombay Stock Exchange (BSE) on December 11, 2023, notified regarding the Standardization of Exchange to Member Interface files in Unified Distilled File Formats (UDiFF).
The Market Data Advisory Committee (MDAC) of SEBI observed that the formats of existing standardized data files generated by all MIIs in all segments are different and there is a need for these formats to be standardized and harmonized in conformance with the ISO standards, which will facilitate ease of doing business in the Indian securities market.
Following the above and as per recommendations of SEBI’s MDAC, the new UDiFF (Unified Distilled File Formats) file formats applicable for the Equity - Cash Market (CM), Equity Derivatives (FO), Currency Derivatives (CD) and Commodity Derivatives (COM) segments are designed and being developed.
Members are requested to refer to the below-provided details and initiate necessary changes in their systems:
- The SEBI guidance document having the UDiFF Standards for Generation and Implementation is attached as Annexure A.
- The proposed UDiFF trade and Bhavcopy file formats are attached as Annexure B with ISO tags as headers in the aforesaid files.
- To simplify development at the members' and vendors' end, sample test files with ISO tags are attached as Annexure C.
- The details mentioned in points number 1 to 3 shall also be made available on the BSE website.
[Notification No. 20231211-36]
