Extension of Timeline for Implementation of SEBI Circular on Safer Participation of Retail Investors in Algorithmic Trading

CIRCULAR
SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/108 July 29, 2025 To, All recognized Stock Exchanges Stock Brokers through recognized Stock Exchanges Madam / Sir, Sub: Extension of timeline for implementation of SEBI Circular SEBI/HO/MIRSD/MIRSD-PoD/P/CIR/2025/0000013 dated February 04, 2025

1. SEBI issued circular on “Safer participation of retail investors in Algorithmic trading”
   on February 04, 2025. The provisions of the circular were to come in to effect from August 01, 2025.
2. SEBI has received various representations from stock brokers and ISF participants
   requesting for an extension of timeline for implementation of provisions of the circular. Based on the same, it has been decided that the circular shall come into effect from October 01, 2025, in order to ensure smooth implementation without any disruption to the markets players and investors.
3. Stock Exchanges, are hereby, directed to:
   3.1.bring the provisions of this circular to the notice of their members / participants and also disseminate the same on their websites; 3.2.put in place appropriate systems and procedures to ensure compliance of the provisions of this circular; 3.3.make necessary amendments to the relevant Bye-laws, Rules and Regulations for the implementation of the above decision;
4. This circular is issued in exercise of powers conferred under Section 11(1) of
   Chapter IV of the Securities and Exchange Board of India Act, 1992, read with

Section 30 of the Securities and Exchange Board of India (Stock Brokers)
Regulations,1992 to protect the interests of investors in securities, to promote the development of, and to regulate the securities markets.
5. This circular is available on SEBI website at www.sebi.gov.in under the category:
‘Legal → Circulars’.
Yours faithfully,
Aradhana Verma
General Manager
Tel. No: 022 26449633 aradhanad@sebi.gov.in