SEBI Revises Time Lag Norms for Stock Price Data Sharing

Circular no. HO/47/17/12(11)2025-MRD-POD3/I/11107/2026; Dated: 08.05.2026

The Securities and Exchange Board of India (SEBI) has revised the framework governing the sharing and use of stock price data by Market Infrastructure Institutions (MIIs) and registered market intermediaries for educational and investor awareness activities.

1. Earlier Framework

Under the previous norms:

• Real-time price data shared for educational and awareness activities
• Was subject to 1-day time lag

However:

• Entities engaged solely in educational activities could use such data only after 3-month time lag

2. Revised Framework

SEBI has now prescribed:

• A uniform 30-day time lag
• For sharing and use of stock price data
• Applicable across:

1. 1. Educational activities
   2. Investor awareness initiatives

3. Objective of the Revision

The change aims to:

• Rationalise and simplify existing data-sharing norms
• Promote consistency in regulatory treatment
• Facilitate wider use of market data for educational purposes

4. Impact of the Change

The revised framework is expected to:

• Reduce operational complexity
• Improve accessibility of market data for:

1. 1. Educational institutions
   2. Investor awareness platforms

• Maintain safeguards against commercial misuse of near real-time market data

5. Conclusion

SEBI’s move introduces a more balanced and harmonised framework for use of stock market data in educational and awareness activities by replacing varying timelines with a single uniform 30-day lag requirement.

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