Description

NSE mandates all active trading members to submit AI/ML application details for the period ending March 31, 2026, via the ENIT portal by April 15, 2026. NIL submissions are also required from members not using AI/ML systems.

Summary

NSE has issued a circular (NSE/COMP/73568) requiring all active trading members to report details of Artificial Intelligence (AI) and Machine Learning (ML) applications and systems used or offered by them. The submission window is open from April 1, 2026 to April 15, 2026 via the ENIT portal. This is in reference to SEBI circular SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 dated January 4, 2019 and prior NSE circular NSE/COMP/59700 dated December 12, 2023.

Key Points

  • All active trading members (those who executed even a single trade during the applicable period) must submit AI/ML details.
  • Members not using AI/ML systems are still required to submit a NIL report.
  • Trading members using Algorithm software must report on a half-yearly basis (period: Oct 1, 2025 to Mar 31, 2026).
  • Other trading members must report on an annual basis (period: Apr 1, 2025 to Mar 31, 2026).
  • NSE will share submissions with other exchanges (BSE/MSE/MCX/NCDEX) for members registered with multiple exchanges, per the technology-based sharing mechanism circular NSE/INSP/69184 dated July 18, 2025.
  • Submissions must be made through: NEW ENIT > COMPLIANCE > ‘ML and AI’ > ML and AI Details.

Regulatory Changes

No new regulatory framework is introduced. This circular operationalizes existing requirements under SEBI circular SEBI/HO/MIRSD/DOS2/CIR/P/2019/10 (January 4, 2019) for the current reporting period. Cross-exchange data sharing is facilitated per NSE/INSP/69184 (July 18, 2025), reducing the burden on members registered with multiple exchanges.

Compliance Requirements

  • All active trading members must submit AI/ML application details via the ENIT portal (https://enit.nseindia.com/MemberPortal/).
  • Members using algorithmic trading software: submit half-yearly data for Oct 1, 2025 – Mar 31, 2026.
  • All other trading members: submit annual data for Apr 1, 2025 – Mar 31, 2026.
  • Members with no AI/ML usage must submit a NIL report — submission is not optional.
  • Members registered with BSE/MSE/MCX/NCDEX need only submit to NSE; NSE will share with other exchanges.
  • Failure to comply will result in action as per NSE/INSP/70746 dated October 10, 2025.

Important Dates

  • April 1, 2026: ENIT submission window opens.
  • April 15, 2026: Deadline for all AI/ML submissions; ENIT link closes after this date.
  • Reporting period (Algo members): October 1, 2025 to March 31, 2026.
  • Reporting period (Other members): April 1, 2025 to March 31, 2026.

Impact Assessment

This circular has broad operational impact across all active NSE trading members. The mandatory NIL reporting requirement ensures universal participation regardless of AI/ML adoption. The cross-exchange sharing mechanism reduces compliance overhead for multi-exchange members. Non-compliance carries regulatory consequences under the October 2025 enforcement circular. Members should ensure ENIT portal access and credentials are active ahead of the April 15, 2026 deadline. For support: 1800 266 0050 (IVR option 3) or memcompliance_support@nse.co.in.

Impact Justification

Mandatory compliance deadline with non-compliance penalties for all active trading members; affects all NSE trading members regardless of AI/ML usage.