On Oct. 1, 2026, IND BSE required trading members to submit AI/ML reports for the half year Apr. 1 to Sep. 30, 2026, by Oct. 15, 2026.
Active trading members are those who executed even a single trade using algorithm during the half year.
On Mar. 31, IND BSE issued AI and machine learning reporting rules.
IND BSE issued reporting requirements for artificial intelligence (AI) and machine learning (ML) applications and systems offered and used by market intermediaries.
Follows IND NSE Oct. 2020 update on reports of AI, machine learning, see #87602.
Actionable Steps
Stockbrokers must submit AI/ML system details through BEFS AI/ML labeled module.
Stockbrokers offering or using applications or systems, as defined in annexure B of attached IND SEBI circular, are required to submit the details in AI/ML reporting form.
Further, stockbrokers who are not using the applications, as defined in annexure B, are also required submit the AI/ML reporting form by selecting the option as no in BEFS.
Submission process will be considered complete on receiving acknowledgement mail.
Effectiveness
Reports for the quarter ending Mar. 31, 2023 must be submitted by Apr. 15, 2023.
Jun. 2023 Reporting
On Jun. 30, 2023, IND BSE issued notice re reporting for AI/ML of the second quarter.
Stockbrokers must submit AI/ML system details through BEFS AI/ML labeled module.
Stockbrokers offering or using applications or systems, as defined in annexure B of attached IND SEBI circular, are required to submit the details in AI/ML reporting form.
Further, stockbrokers who are not using the applications, as defined in annexure B, are also required submit the AI/ML reporting form by selecting the option as no in BEFS.
Submission process will be considered complete on receiving acknowledgement mail.
Reports for the quarter ending Jun. 30, 2023 must be submitted by Jul. 15, 2023.
Oct. 2023 IND NSD Amendments
On Oct. 5, 2023, IND NSD required all participants to submit quarterly AI/ML Reports via online portal, while those not using AI/ML applications must submit nil report.
All Participants are urged to take note of these requirements, submit quarterly AI/ML report on e-PASS system, starting from quarter ending on Sep. 30, 2023, onwards.
Follows IND NSD Oct. 2021 update on the submission of AI/ML reports, see #117834.
Document dated Oct. 5, 2023, received from IND NSD Oct. 6, summarized on Oct. 9.
Dec. 2023 Revised Reporting Timelines
On Dec. 12, 2023, IND BSE said IND SEBI revised the reporting timelines for artificial intelligence, machine learning applications, systems used by market intermediaries.
Trading members using algorithm software must now report on a half-yearly basis within 15 calendar days of the expiry of the half year, instead of quarterly.
Other members shall report annually within 15 calendar days of expiry of the year.
All active trading members, whether they use AI/ML systems or not, are mandated to submit their reports, those not using AI/ML systems must report NIL submission.
Next submission deadline will be for the half year/annual period ending Mar. 31, 2024.
Sep. 2025 AI/ML Applications Usage
On Sep. 30, 2025, IND BSE said all active trading members who used algorithmic software between Apr. 1 and Sep. 30, 2025, must report their AI/ML applications.
Trading members not using such systems are required to report a NIL submission.
Members registered with both BSE and NSE need only submit to NSE, which will share the details with BSE, while BSE-only members must submit directly to IND BSE.
Submissions must be made through BEFS portal (AI and ML reporting form) between Oct. 1 and Oct. 15, 2025; all members are required to comply by the Oct. 15 deadline.
Apr. 2026 AI/ML Reporting
On Apr. 1, 2026, IND BSE required trading members to submit reports on AI/ML for the period ending Mar. 31, 2026, per the applicability criteria provided.
Trading members using applications or systems must submit details in AI/ML reporting form; those not using them must also submit a Confirmation Reporting.
Trading members who registered with IND NSE are required to submit AI/ML details to IND NSE only; those not registered with IND NSE will continue to make submit through the BEFS.
All members are advised to ensure submission on or before Apr. 15, 2026.
Document dated Apr. 1, 2026, received from IND BSE Apr. 9, summarized on Apr. 13.
Oct. 2026 AI/ML Submission
On Oct. 1, 2026, IND BSE required trading members to submit AI/ML reports for the half year Apr. 1 to Sep. 30, 2026, by Oct. 15, 2026.
Active trading members are those who executed even a single trade using algorithm during the half year.
Regulators
IND BSE; IND NSD
Entity Types
B/D; Exch
Reference
Nt 20261001-39, 10/1/2026; Nt 20260401-21, 4/1/2026; Nt 20250930-85, 9/30/2025; Nt 20231212-50, 12/12/2023; Cir NSDL/POLICY/2023/0142, 10/5/2023; Nt 20230630-8, 6/30/2023; Nt 20230331-85, 3/31/2023
