Reporting of Artificial Intelligence and Machine Learning Applications and Systems

National Stock Exchange of India

Circular

To All Members,

Sub: Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries

This is with reference to the SEBI circular no. SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 dated January 4, 2019 and Exchange Circular NSE/COMP/59700 dated December 12, 2023, regarding the reporting of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by market intermediaries.

The submission of AI-ML applications is mandatory for all active Trading Members using Algorithm software (i.e. those who have executed even a single trade using algorithm during the half year period i.e. April 01, 2026, to September 30, 2026) irrespective of whether they are using AI-ML systems or not. While submitting AI-ML data trading members are requested to mention Application / System name details explicitly. The Trading Members using Algorithm software, however not using AI-ML systems are also required to report NIL submission.

Kindly note, submission of AI-ML reporting should be done through the ENIT module. The URL for accessing ENIT portal is https://enit.nseindia.com/MemberPortal/

Members are hereby informed and advised to submit the report through ENIT-New-Compliance > COMPLIANCE > ML and AI > ML and AI Details. The ENIT link for submission shall remain open from October 01, 2026 till October 15, 2026. The user manual for submission of AI-ML data or NIL reporting is as attached as Annexure I.

Kindly note that failure to report AI-ML details within the prescribed timeline would be treated as non-compliance and action will be taken as defined in the Exchange circular no. NSE/INSP/73792 dated April 17, 2026

National Stock Exchange of India

Circular

All members are advised to ensure submission on or before October 15, 2026.

For any support, please reach out to the helpdesk on 1800 266 0050 (Select IVR option 3) or email at memcompliance_support@nse.co.in.

For and on behalf of
National Stock Exchange of India Limited

Swati Sopare
Chief Manager

ANNEXURE I

User Manual For Electronic Reporting for Artificial Intelligence (AI) And Machine Learning (ML) Applications And Systems Offered And Used By Members (Electronic NSE Interface For Trading Members)

1.1 Half yearly/Annual Compliance for ML and AI

Trading members need to do the Reporting for Artificial Intelligence (AI) and Machine Learning (ML) applications and systems offered and used by them for every half year/annually as applicable. Using this module, user can submit the details.

1.1.1 ML and AI

[A] Open ‘ML and AI’ screen:

1. Login with correct member credentials.
2. Click on ‘Compliance’.
3. Go to ‘ML and AI’.
4. Select ‘ML and AI details’& click on it.

[Image omitted. See the official document.]

Below screen will open & user has to fill all editable fields. This form will contain dropdowns, text and fields to be filled.

‘Name of Trading Member, Entity SEBI Reg. No., Entity PAN No. and Registered Entity Category’ are the auto populated fields which are non-editable.

The submission period (as applicable) will be populated on the screen as highlighted below in red.

*For Trading Members using Algorithm software

[Image omitted. See the official document.]

User needs to fill/select other details as required in the form under ‘System Details 1’.

In case user wants to report more than one such AI-ML system, user needs to click on ‘Add Row’ button and a new ‘System Details 2’ will be available to fill the details. Similarly, user can create as many ‘System Details’ as he wants – by clicking on ‘Add Row’ button.

If AI-ML systems are not used by members and user wants to report accordingly, user needs to click on NIL submission.

[Image omitted. See the official document.]

[B] Submitting the details:

1. Once user has finished filling in the details and clicked on Submit OR
2. User has clicked on NIL submission.

The successful alert is seen when user submits the details successfully. It will also generate Reference No. as follows:

[Image omitted. See the official document.]

When AI-ML submission is done successfully, the same will reflect under “ML and AI Report” section.

*Note – AI-ML Submission done till 01-Jul-2023 are quarterly submissions. Subsequent submissions made are half yearly/annually.

[Image omitted. See the official document.]