The National Stock Exchange International Exchange (NSE IX) on June 21, 2024, issued a circular regarding the change in the submission timeline for reporting Artificial Intelligence (Al) and Machine Learning (ML) applications and systems offered and used by market intermediaries.

NSE has informed that the timeline for reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems has been revised.

Important Points:

• This is about Exchange circular no. NSEIFSC/REG/1632 dated April 01, 2024, regarding reporting of Artificial Intelligence (Al) and Machine Learning (ML) applications and systems offered and used by market intermediaries.
• Members are informed that the timeline for reporting Artificial Intelligence (Al) and Machine Learning (ML) applications and systems used by market intermediaries is being revised.
• Members are required to submit the report electronically in the “Artificial Intelligence (AI) and Machine Learning (ML)” module of IIeFS (India INX Electronic Filing System) of the Exchange only. The URL for IIeFS is https://iiefs.indiainx.com.
• The next reporting of Artificial Intelligence (Al) and Machine Learning (ML) applications and systems used by market intermediaries will be for the year ended March 31, 2025, and the same shall be reported by April 15, 2025.

Key Points:

1. Applicability: All enabled members
2. Current Timeline for reporting of AI/ML applications: Quarterly basis within 15 calendar days from the expiry of the quarter
3. Revised Timeline for reporting of AI/ML applications: Annually (FY ended March 31) within 15 calendar days from the year ending

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BA.LLB Sunidhi Singh

Sunidhi Singh, a BBA.LLB graduate