What is a Structured Digital Database (SDD)?
A Structured Digital Database (SDD) is the tamper-proof digital log that a listed Indian company or market intermediary must keep of unpublished price sensitive information (UPSI) and the people it is shared with. SEBI's insider trading rules require it so there is an audit trail of who knew what, and when, before that information became public. This guide explains what a Structured Digital Database is, what it records, and how long it must be kept. It is not investment advice.
Definition
A Structured Digital Database
is the tamper-proof, time-stamped record a listed company or intermediary keeps under SEBI's insider trading rules. It logs unpublished price sensitive information and the identity of everyone it was shared with, and must be preserved for eight years. Source: SEBI.
What does a Structured Digital Database record?
The SDD logs each instance of UPSI and the natural persons or entities with whom it was shared, along with the nature of that information. Its defining features are set by SEBI:
- Non-tamperable: once an entry is made, it cannot be edited or deleted. A correction is a fresh entry that references the original.
- Time-stamped: every entry records the date and time.
- Audit trail: the database captures each addition or change with its user and timestamp.
Because entries cannot be quietly changed, the SDD is meant to give SEBI a reliable trail if it needs to reconstruct how sensitive information moved before a public announcement.
Which regulation requires an SDD?
The requirement sits in Regulation 3(5) of the SEBI (Prohibition of Insider Trading) Regulations, 2015, which obliges listed companies and intermediaries to maintain the database. Regulation 3(6) sets the retention period.
How long must an SDD be kept?
Under Regulation 3(6), the database must be preserved for eight years after the relevant transactions are completed.
8 years
How long a Structured Digital Database must be preserved under SEBI PIT Regulation 3(6)
Source: SEBI
If SEBI opens an investigation or enforcement proceeding, the relevant records must be kept until those proceedings finish, in addition to the eight years.
Where the SDD sits in insider-trading compliance
The SDD is the record behind the rules retail investors see the results of. The information it tracks is UPSI, and the trades that follow once information is public are reported through insider trading disclosure. During sensitive periods, designated persons are also blocked from trading under a trading window closure. When the underlying event finally goes public, it lands as a material event disclosure on the exchanges.
Flock reads disclosure filings and keeps each one dated and linked back to its source, so you can go from a summary to the original disclosure in one step. What any of it means for your money is your call to make.
Frequently asked questions
What is a Structured Digital Database?
A Structured Digital Database, or SDD, is the tamper-proof digital record that a listed company or intermediary must maintain under SEBI's insider trading rules. It logs unpublished price sensitive information and the people it was shared with, with time stamps and an audit trail. Source: SEBI.
Which regulation requires an SDD?
Regulation 3(5) of the SEBI (Prohibition of Insider Trading) Regulations, 2015 requires listed companies and intermediaries to keep a Structured Digital Database. Regulation 3(6) sets how long it must be preserved. Source: SEBI.
How long must an SDD be kept?
Under Regulation 3(6), the Structured Digital Database must be preserved for eight years after the relevant transactions are completed. If SEBI opens an investigation, the records must be kept until those proceedings finish, on top of the eight years. Source: SEBI.
Is the SDD public?
No. The Structured Digital Database is an internal compliance record, not a public filing. It is produced to SEBI during an investigation. Investors do not read the SDD itself; they read the public disclosures that follow from the events it tracks. Source: SEBI.
Flock tracks these filings, sourced, dated, and linked back to the original. See what smart-money entities disclosed, without the guesswork about what it means.
Disclosures shown are public regulatory filings. Data may be delayed or incomplete. Smart-money entities may no longer hold positions shown. Not investment advice.