The Bombay Stock Exchange (BSE) on December 12, 2023, issued a notification regarding a change in submission timelines for reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries.
The following has been stated: -
•This is with reference to SEBI circular SEBI/MIRSD/DOS2/2019/10 dated January 04, 2019, regarding reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries.
•As per communication received from SEBI, members are hereby informed that the timeline for reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems shall be revised and the below-mentioned timelines will be followed with immediate effect.
•The submission of AI/ML applications is mandatory for all active Trading Members of the Exchange (i.e. those who have executed even a single trade during the half-year/annual period as mentioned above) irrespective of whether they are using AI/ML systems or not. The Trading Members who are not using AI/ML systems are also required to report NIL submissions. Kindly note that the next submission will be applicable for the half-year/annual period ending March 31, 2024.
•Trading Members are advised to take note and comply with the above guidelines.
The detailed notification is given in the document attached below.
[Notice No. 20231212-50]
