Market regulator Securities and Exchange Board of India (SEBI) has won international recognition for its artificial intelligence (AI) initiatives, with one team winning a global regulatory hackathon and two others securing three awards at the inaugural IOSCO TechSprint on investor education.
SEBI’s Team Pheonix won the C:>DIR Global ‘Agentic Regulator’ Hackathon for PolicyTwin, a prototype that allows regulators to simulate the impact of proposed policies on financial markets before implementation. The team will receive $35,000 and has been invited to present its solution at Singapore FinTech in November.
PolicyTwin creates a simulated securities market populated by AI agents representing retail investors, institutions, brokers, high-speed traders and potential wrongdoers. Regulators can test draft rules and assess their possible effects on trading, settlement, investor losses and market fairness. The prototype can also flag risks such as market manipulation, margin shortfalls and misuse of automated trading.
SEBI said human officials would remain in control, with findings serving as evidence rather than triggering automatic action. The prototype is planned for adoption after refinement and thorough testing.
Team Pheonix comprises Shreya Chaturvedi and Suchita Jain, assistant general managers, and Apoorva Singh Rathore and Shahityaa D, managers.