SEBI’s AI, Cloud Based Surveillance Of Brokers, Investors – Wipro, HP Will Build Technology

SEBI will use AI, Big Data to track and monitor brokers, investors in India

SEBI's Cloud based surveillance for brokers
SEBI’s Cloud based surveillance for brokers

SEBI or Securities and Exchange Board of India has decided to increase surveillance of brokers, investors in India. As per fresh reports coming in, SEBI has commissioned 7 powerful technology firms to create the required technologies for high-tech surveillance.

SEBI is the regulator for securities market in India, and via SEBI ACt 1992, it has been given statutory powers to regulate, and monitor the securities market in India.

Which companies have been asked to create and build technology for surveillance? And what will they monitor? Keep reading to find out more!

Which IT Companies Will Work With SEBI?

In the month of August, SEBI had invited bids and quotes from technological companies, in order to enhance their surveillance and monitoring capabilities.

Via this tender, 7 IT companies have been selected: Wipro L&T Infotech, Accenture Solutions, Capgemini Technology Services India, Hewlett Packard Enterprise (India), EIT Services India, Tharavu Technologies.

In a statement, SEBI said,  “Bidders have been shortlisted for further process,”

Surveillance Of Brokers, Investors – The SEBI Way

As mentioned in their bidding documents, SEBI is primarily building a new tech platform, which will allow them to put suspected brokers and investors into surveillance, and monitor their trading activities.

SEBI has asked these shortlisted IT companies to create some of the most advanced software, tools and surveillance mechanisms, which includes:

  • Create a private Cloud for SEBI
  • This private Cloud will provide infrastructure, storage and computing capability for all future SEBI surveillance campaigns
  • Sharper Analytical processing of real-time data, based on Big Data
  • Tools to monitor the flow of money in mutual funds investments, and equities in the share market.
  • Formulate quick recovering mechanism during natural disasters, and ensuring business continuity.
  • Using Big Data and AI to understand and stop market manipulations, and understand how unethical brokers and agents/investors can manipulate the market prices
  • Halting and stopping rumors released by few brokers to manipulate the market
  • Greater usage of AI, Big Data and Analytics to understand the market, and stop all unethical, bad business practices.
  • An automated process to verify brokers and investors, and to ensure that only honest traders are allowed to operate and engage.

SEBI’s Future Plans

As per SEBI’s 2017-18 annual report, they had mentioned about formulating high-tech surveillance for brokers and investors, which will help them to maintain the integrity of investment markets.

Besides these, SEBI also plans to build a platform wherein companies can make their official announcements, so that rumors cant float and negatively impact the market.

We will keep you updated, as more details come in..

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