The Securities and Exchange Board of India (SEBI) has a draft on policies for sharing data for analysis and research. This aims to fill the existing gaps in the 2018 data sharing policy, making it easier to achieve a balance between privacy and access to information.
The draft policies are intended to promote data democratisation, data privacy and data accountability.
The draft revisions were released after deliberations from the SEBI Market Data Advisory Committee (MDAC). The MDAC recommended that the SEBI only share data it owns and market infrastructure institutions will have to devise their own policies. To ensure that all data is authentic and adequate, all stakeholders would need to have ethical and lawful policies on data collection, processing, storage, dissemination and sharing.
Under this draft policy, only data for research purposes will be shared. Data shared for commercial purposes shall not fall under this draft policy.
Market infrastructure institutions will categorise data into the following baskets:
- The first basket will have publicly available data and voluminous data that cannot be placed on the website. Data here can be shared and should be in aggregate and anonymised format.
- The second basket will contain data such as know-your-customer (KYC) details, trade logs and other identifiers. This data cannot be shared.
The basic principle is that there shall be no disclosure of personal, sensitive and/or confidential information in the public domain.
