The National Stock Exchange (NSE) on October 01, 2024, issued the notification regarding the Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries.
The following has been stated namely: -
• Trading Members using Algorithm software are required to submit the details on the specified matter for the period April 01, 2024 to September 30, 2024.
• The submission of AI/ML applications is mandatory for all active Trading Members using Algorithm software 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 submission.
• The submission of AI/ML reporting should be done through the ENIT module.
• The ENIT link for submission shall remain active from October 01, 2024 till October 15, 2024. The user manual for submission of AI/ML data or NIL reporting is as attached as Annexure I.
• The failure to report AI/ML details within the prescribed timeline would be treated as noncompliance and attract a penalty of Rs. 10,000/- for respective period.
[Notification No. NSE/COMP/64294]
