BSE, NSE take steps to standardize disclosure by listed entities

India’s stock exchanges BSE and NSE on Monday announced that they have taken steps to standardize the input of critical data regarding compliance by listed entities. That said, listed firms are required to submit compliance filings from time to time to the stock exchanges within the stipulated time frame given by the markets regulator SEBI.

In their respective statements, both BSE and NSE said, listed entities are required to submit compliance filings from time to time to the stock exchanges within the stipulated time frame. SEBI listing regulations.

Accordingly, they were mandated to report XBRL-based filings for financials from 2015 onwards.

Further, under the aegis of SEBI Market Data Advisory Committee (MDAC) constituted to recommend policy measures in sectors such as securities Market Data standardization, access and privacy, it was discussed that XBRL would be implemented for all corporate filings, it added.

Thus, BSE and NSE have implemented a new XBRL-based compliance filing mechanism featuring uniform and homogeneous compliance data structures that will not only reduce the compliance burden on the listed entities for companies but also the analysis on the data submitted by the listed entities. will also enable

“We believe that these steps will enhance transparency and efficiency of corporate information for investors,” the BSE and NSE statements said.

Established in 1875, BSE is Asia’s first and now the world’s fastest stock exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a major role in developing the Indian capital market. BSE is an incorporated and demutualized entity with a wide range of shareholders.

BSE provides an efficient and transparent market for trading in Equity, Debt Instruments, Equity Derivatives, Currency Derivatives, Commodity Derivatives, Interest Rate Derivatives, Mutual Funds and Stock Lending and Lending.

Meanwhile, NSE started operations in 1994 and is ranked as the largest stock exchange in India in terms of total and average daily turnover for equity shares every year since 1995 based on SEBI data. NSE has a fully integrated business model that includes exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings.

NSE is the world’s largest derivatives exchange by trading volume (contracts) as per the data maintained by the Futures Industry Association (FIA) for the year 2021. According to NSE data, Cash Equity is ranked fourth in the world by multiple trades. Maintained by the World Federation of Exchanges (WFE) for the year 2021.

The BSE benchmark Sensex closed 442.65 points or 0.75% higher at 59,245.98 on Monday, while the NSE benchmark Nifty 50 closed 126.35 points or 0.72% higher at 17,665.80.

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