Market Data Advisory Committee (MDAC)

# Members Details Capacity
1 Dr. M. S. Sahoo
Distinguished Professor, National Law University, Delhi (NLUD) and Former Chairperson, Insolvency and Bankruptcy Board of India (IBBI)
Chairperson
2 Dr. C.K.G. Nair
Director, National Institute of Securities Market (NISM)
Member
3 Shri. Ashishkumar Chauhan
MD & CEO, NSE
Member
4 Shri. Sundararaman Ramamurthy
MD & CEO, BSE
Member
5 Shri. P.S. Reddy
MD & CEO, MCX
Member
6 Shri. Arun Raste
MD & CEO, NCDEX
Member
7 Smt. Padmaja Chunduru
MD & CEO, NSDL
Member
8 Shri. Nehal Vora
MD & CEO, CDSL
Member
9 Shri. Anuj Kumar
Director & CEO, CAMS
Member
10 Shri. Sreekanth Nadella
CEO & COO, Kfintech
Member
11 Dr. Subrata Sarkar
Professor, Indira Gandhi Institute of Development Research (IGIDR)
Member
12 Shri. Dhirendra Kumar
Founder-CEO, Value Research
Member
13 Shri. Prithvi Haldea
Founder-Chairman, Prime Database
Member
14 Shri. Mahesh Vyas
MD, CMIE
Member
15 Shri. Ranjit Pawar
Managing Director, South Asia, Refinitiv
Member
16 Shri. Raman Uberoi
Senior Advisor Government & Regulatory Relations, CRISIL
Member
17 Shri. Nithin Kamath
Founder & CEO, Zerodha Broking Ltd
Member
18 Shri. Kiran Shetty
CEO & Regional Head - India & South Asia, SWIFT India
Member
19 Shri. Suhas Tuljapurkar
Managing Partner, Legagis
Member
20 Shri. Amarjeet Singh
Executive Director, SEBI
Member
21 Shri. Prabhas Kumar Rath
Chief General Manager, SEBI
Member Secretary

Terms of reference of the Committee:


(i) Recommendation of appropriate policy for access to securities market data for both transactions and disclosures.

(ii) Identification of Segment-wise Data Perimeters, Data Needs and Data Gaps.

(iii) Standardization of Data Definitions; Data Identification Logic (e.g. usage of uniform codes for identifying and storing data - Raw Data and Derived Data) and Data Validation Techniques (single source of truth, validation).

(iv) Standardization of formats and documents - filings; reportings; forms; agreements etc.

(v) Recommendation of appropriate policy and operational framework to address standardization, integrity, sourcing, storing, transfer and publishing of data, including the adoption of global standards e.g. XBRL/ ISO/ FIX standards etc. for messaging and entity interface.

(vi) Recommendation of appropriate regulations to ensure accountability, reporting and enforcement of data related policies.

(vii) Process for monitoring of intended outcomes

(viii) Working with Industry Associations to facilitate smooth implementation of policies and regulations.

(ix) Reviewing evolving regulations in the country regarding data privacy and data access and making recommendations applicable to market data.

(x) Periodic review of the above.

(xi) Any other related matters.