BSE devises method of rumour detection for listed companies

To deepen its regulatory oversight of newer channels of communication in capital markets, BSE on Monday said it has introduced a data analytics based systemic solution to track news about listed companies on digital media. 

The mechanism, which relies on artificial intelligence mechanism, will detect and mitigate potential risks of market manipulation, rumour and reduce information asymmetry arising from it on digital media platforms, including social media, BSE said in a statement.

It provides accurate information involving listed companies and BSE through the exchange website for the benefit of investors. BSE said it will continue to deploy and enhance advanced technological innovations to track social media.

The exchange currently offers a variety of facilities which include a portal ‘Listing Center’ enabling the listed companies to file their disclosures in an electronic manner via XBRL webpage. The online reporting was introduced in order to bring in more accuracy, efficiency and timeliness. It was in compliance with Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The exchange said alerts generated by this social media solution will be closely monitored by BSE from the standpoint of material information and also vis-a-vis possible rumours appearing in various media including print and on-line channels as per Sebi norms.