Central Depository Services (India) Limited (CDSL), in collaboration with KPMG in India, has released the third edition of its Reimagine thought leadership report titled “Reimagine: Securities Market through Data Synergy.” The report introduces a Creation–Control–Culture (3C) framework aimed at enabling a data-driven transformation of India’s securities market ecosystem.
Emphasising that “data risk is market risk,” the report highlights the need for robust data governance to enhance resilience, transparency, and innovation. It outlines how a structured approach can support shared data infrastructure, strengthen cyber safeguards, and promote responsible data practices across institutions. The framework also recommends a central regulatory operating model to improve interoperability, align regulatory expectations, and enhance investor protection.
Shri Nehal Vora, MD & CEO, CDSL, said, “Data synergy is the force that brings Creation, Control and Culture together—enabling innovation while strengthening trust. When data becomes intelligent and interoperable, it powers a resilient and trust-enabled market ecosystem.”
India’s securities market continues to expand, with household participation at around 20%, indicating strong growth potential. The report identifies key opportunity areas including improved price discovery, personalised investor experiences, enhanced fraud detection, and agile supervision through RegTech and SupTech.
Akhilesh Tuteja, Partner and National Leader, Clients & Markets, KPMG in India, added, “Treating data as core market infrastructure is critical for sustaining market leadership and strengthening investor confidence.”
The report underscores the need for coordinated efforts across regulators, institutions, and market participants to build a trusted and future-ready data ecosystem.
