Sebi bets big on technology; shortlists Infosys, Wipro, others for data solution

New Delhi: Markets regulator Sebi has shortlisted as many as seven companies, including Infosys, Wipro and Accenture Solutions, for providing a data solution that can handle vast amount of data from multiple sources.

Over the past few years, the regulator has been betting big on technology to address and handle challenges arising out of technological advancements in the markets.

To provide 'data lake' solution, the markets regulator had issued a notice in May, inviting expression of interest (EoI) from the interested parties.

The selected company will be responsible for designing, implementing and supporting a big data solution with analytical capabilities.

The data lake will contain large amount of structured (order, trade data among others), unstructured (annual reports and Sebi orders) and semi-structured data (XML -- a markup language designed to store and transport data. It encodes documents in a manner that is both human and machine-readable) .

"As the trading volumes are growing at an astronomical rate, a need is felt to build a data lake which can handle structured, semi-structured and unstructured data from multiple sources," the regulator had said.

Accordingly, the Securities and Exchange Board of India (Sebi) invited bids from companies to provide such services.

After evaluating the responses, the regulator said in a notice, it has shortlisted seven firms -- Accenture Solutions, Capgemini Technology Services India, Hewlett Packard Enterprises (India), EIT Services India, Infosys, Wipro and Larsen & Toubro Infotech -- "for further process".

Data lake is a system that stores vast amount of data in its native form at any scale.