The Securities and Exchange Board of India (SEBI) plans to put in place an Integrated Surveillance system in 6 to 9 months time, which will integrate primary market participants such as stock exchanges, depositories and settlement systems.
The proposed surveillance system would connect all primary market intermediaries, such as stock exchanges, depositories, clearing and settlement systems with each other, and will be a common interface to provide real-time data to one another and to the regulator, SEBI. The integration would allow the system to provide a complete analysis of the data across all exchanges, depositories and clearing houses.
Further, the proposed system will also capture data on the commodities markets, which the current surveillance mechanism is unable to do. Overall, the system will capture unusual movements in the market and will identify unusual sources who are causing such these movements.
Once in place, the proposed system will be able to integrate data and formulate an analysis in two hours, compared to two months for the same process at present.