SEBI sets 30-day lag for educational use of market price data
Education providers must keep market price data at least 30 days stale
Change
SEBI set a 30-day lag for sharing and using market price data for educational purposes from 1 July 2026, with a one-day-lag exception for NISM’s simulation lab.
Why it matters
Educational use of market price data is now bounded by data age, not only by purpose. Market infrastructure institutions and intermediaries must pair educational data sharing with legal agreements, due diligence and audit-trail controls.
Implications
- — Market infrastructure institutions and registered intermediaries must share market price data for investor education only after a 30-day lag from 1 July 2026.
- — Securities education providers must exclude market price data from the preceding 30 days when referring to securities in a way that indicates future price, advice or recommendation.
- — Market infrastructure institutions and intermediaries must put legal agreements, due diligence and audit-trail controls in place before sharing price data for educational use.
Who is affected
- — Market infrastructure institutions sharing price data
- — Registered intermediaries sharing price data
- — Securities education providers using market price data
- — NISM simulation-lab operators
What to watch
- — 1 July 2026: 30-day lag applies to educational sharing and usage of market price data.