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22
November 2016
Stock market major BSE on Monday
said it has launched an artificial intelligence mechanism to track "news
related to listed companies" on digital media. The Total Investment
& Insurance Solutions
According to BSE, the artificial
intelligence mechanism based on a systemic solution has been envisaged to
deepen its regulatory oversight on newer channels of communication.
"The primary objective of
verification is that the 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," the BSE said in a statement.
"It provides accurate
information involving listed companies and BSE through the exchange website for
the benefit of investors." The Total Investment & Insurance
Solutions
According to the regulated stock
exchange, the solution employs an advanced level combination of statistical
modeling and big data analytics. The Total Investment & Insurance
Solutions
"BSE will continue to deploy
and enhance advanced technological innovations to track social media. This
would enhance market integrity, orderly functioning and investor protection in
the Indian capital markets," the statement said. The Total Investment
& Insurance Solutions
As per the BSE, alerts generated by
this social media solution will be closely monitored by BSE from the standpoint
of material information and also vis-à-vis possible rumours appearing in
various media including print and on-line channels as per SEBI regulations.
"Any differences observed
therein are required to be explained by the companies, and their responses are
then disseminated on the exchange website for the benefit of investors and
market participants for taking informed decisions," the statement said.
The BSE elaborated that in the
recent past, news media has undergone a sea of changes with digital media and social
media becoming the frontline in news reporting or sharing information digitally
for easier, faster, and wider reach. The Total Investment & Insurance
Solutions
"Further, more and more people
are embracing social media for various purposes including for their financial
planning," the statement added. The Total Investment & Insurance
Solutions
"On this background, any
material news or rumour floating in the social media can have a very big
potential for impacting the sentiments of the investing population which can
further impact price/volumes of securities traded on exchange platforms."The Total Investment
& Insurance Solutions
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