Leading bourse BSE plans to trawl the social media, including Twitter, for information related to listed companies as it looks to step up surveillance amid stringent disclosure regime.
The move is also aimed at ensuring that investors are well informed with timely access to any material information about companies listed on the exchange. BSE Managing Director and Chief Executive Officer Ashishkumar Chauhan said the exchange has started testing various options to gather information about listed companies on social media.
“It is part of surveillance and we are currently experimenting on social media to sort of check out any news or information about companies which is not available or reported to the exchange but is material. Our surveillance team is experimenting that,” Chauhan said. The bourse is working on a Twitter feed to sort out any news of listed companies on the microblogging site.
According to the BSE chief, changes in technology are being used not only for trading purposes but also for surveillance. “There are <g data-gr-id="19">softwares</g> which use artificial intelligence and takes the feed automatically, kind of execute algorithms on that to figure out any information about the company which is listed and not reported to the exchange,” he noted.
Earlier this year, capital markets regulator Sebi tightened disclosure norms for listed entities and exchanges have the responsibility of ensuring compliance.