NSE India introduces UDiFF file formats for the Indian securities market
A new standardization framework is being introduced to harmonize the exchange and clearing information shared across the Indian securities market. The initiative aims to improve ease of doing business and covers several segments, including Capital Market, Futures and Options, Currency Derivatives, Commodity Derivatives, and Electronic Gold Receipts.
Highlights
- NSE India implemented Unified Distilled File Formats (UDiFF) for the Indian securities market based on SEBI’s MDAC recommendations.
- UDiFF standardizes trade and bhavcopy data files across the market’s CM, FO, CD, CO, and EG segments.
- This standardization is expected to bring greater consistency to data handling, system integration, and compliance, supporting operational efficiency and interoperability.
This article was translated from the original. Read the original version by our correspondent here.
Scope of the standardized file framework
According to NSE India, based on recommendations from SEBI’s Market Data Advisory Committee (MDAC), the data file formats used by all Market Infrastructure Institutions (MIIs) to prepare and transfer exchange and clearing information to market participants are being standardized and harmonized. The new standardized file formats are called "Unified Distilled File Formats" or UDiFF.The framework is designed to improve ease of doing business in the Indian securities market and make data exchange more consistent across segments. According to the available details, UDiFF file formats apply to exchange trade and bhavcopy files.
Impact on market participants and the industry
The framework covers the Capital Market (CM), Futures and Options (FO), Currency Derivatives (CD), Commodity Derivatives (CO), and Electronic Gold Receipts (EG) segments. A uniform file structure could help simplify operational processes among exchanges, clearing entities, and other market participants.This standardization is expected to bring greater consistency to data handling, system integration, and compliance processes, particularly for entities operating across multiple market segments. It could support operational efficiency and interoperability in the Indian securities market.
Recall that we previously covered the updates outlined in the circular issued on NSE's market compliance spread.
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