On Aug. 1, IND NSE, IND BSE issued internet device identifier rules.
Issued requirements on unique device identifiers for internet based trading (IBT) and securities trading via wireless technology (STWT), decided by IND SEBI/exchanges.
Follows IND BSE Jul. 2021, updated member surveillance obligations, see #110050.
Trading Member Requirements
Capture all devices used to place, modify, cancel orders by each client, store prescribed fields and submit these for each order resulting in CM, F&O segment trade.
This in is addition to current structure, and uploaded to exchange extranet portal; file structure, file naming convention and relevant technology details as per annexure.
Maintain prescribed fields for all devices where single IBT/STWT orders are placed.
Device identifier attributes/processing of the collected data is to aid surveillance, protect investors, therefore trading members should ensure data resides in India only.
Changes initially apply to trading members with 25 lakhs or more active clients in FY 2021-22 on either exchange, then to all trading members in a phased manner.
Effectiveness
Circular is effective from Aug. 26, 2022.
Aug. 2022 Update on IBT/STWT Orders
On Aug. 24, 2022, IND BSE updated on unique device identifiers for IBT/STWT orders.
Refers to previous advice; requests trading members to upload the data on SFTP in the respective directory on available login, in the format that is prescribed by IND BSE.
Information must be uploaded daily in prescribed form before 7:00pm of trading day.
Oct. 2022 IND BSE on Revised Format
On Oct. 10, 2022, IND BSE said IND SEBI has issued a revised file format for data pertaining to unique device identifier and outlined the data that member must submit.
Effective Oct. 31, 2022.
Oct. 2022 IND NSE on Revised Format
On Oct. 10, 2022, IND NSE also informed members regarding the revised file format.
Applicable to trading members having over 25 lakhs active clients during 2021-2022.
Oct. 2023 IND BSE Update
On Oct. 15, 2024, IND BSE said trading members must review, ensure correct mapping of client IP address, app install ID for clients with different identities.
They should ensure that clients place orders from devices under their control.
Corrective actions must be taken for any discrepancies in the reported data; adequate systems, procedures, policies shall be in place for monitoring, taking corrective steps.
Compliance with this circular is required by Oct. 31, 2024.
