NSE working on artificial intelligence to boost surveillance operations
The National Stock Exchange (NSE) today said it is working on artificial intelligence to strengthen its surveillance operations to prevent any manipulative activities amid reported cases of social media leaks of sensitive information.
"The surveillance systems are best in class in order to track manipulative behavior. We are revamping our surveillance systems to build artificial intelligence machine learning, social media and all other kinds of inputs we can get in order to make better decisions and be able to track patterns of behaviour and trading that would indicate things not functioning the way they should be," NSE managing director and chief executive Vikram Limaye said here.
In recent past, unpublished price sensitive information of several companies was leaked in various private WhatsApp groups before their official announcements.
The markets regulator, which is probing this matter, in its preliminary investigation had found that the firms' quarterly financial results were matching with the figures that were in circulation on WhatsApp groups prior to the official announcement.
He further said that "investing in the technology development of artificial intelligence and machine learning will reinforce surveillance systems to meet the future requirements that will particularly address social media".
Earlier in March, NSE had said that it set up expert groups in business and technology verticals within the course to help bridge the widening technology gap among market participants.
The main focus would be to reduce the gap between large, financially stronger tech-savvy and the smaller, tech-dependent, financially weaker market participants.
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