Publisher rules
Publishing a strategy makes it discoverable to other users who will run it with their own money. That changes what you are doing from private trading to something with a public audience, and a specific set of obligations attaches to it.
Read this before you publish, not after.
What you are, and what you are not
When you publish, you are a strategy author and a publisher. You are not an adviser, you are not an intermediary, and you must not hold yourself out as either.
| You may say | You must not say |
|---|---|
| "This strategy is a momentum rule on NIFTY constituents" | "You should run this" |
| "Its live return over 90 days was 6.4%" | "It returns about 6% a quarter" |
| "Its worst drawdown in the tested window was 11%" | "Your downside is limited to 11%" |
| "It suits a high drawdown tolerance" | "It suits beginners", do not profile the reader |
| "Here is how the rule works" | "Here is what you should buy" |
The distinction is consistent: describe the strategy, never instruct the reader.
If you are a SEBI-registered Research Analyst, activation on this platform permits you to publish non-crypto strategies. It does not create an advisory relationship with anyone who deploys your listing, and it does not authorise personalised advice to them through this platform. The permitted activities under the Research Analysts Regulations are narrower than those under the Investment Advisers Regulations, see Regulatory position.
The four obligations
1. Accuracy
Everything in your listing metadata must be true at the time you publish and must not have become misleading since.
- The description must describe what the strategy actually does. A momentum strategy described as mean-reversion is a misrepresentation, whatever your intent.
- Do not restate performance in your own words. Track-record figures are computed by the platform and shown on the listing. Adding your own numbers creates a second, unverified claim you are responsible for.
- Do not describe expected or typical returns. Not "usually around", not "targets", not "aims for". Past figures only, and the platform already renders those.
2. Risk disclosure
The publish form has a disclaimer field. Today it is optional and the platform accepts an empty value.
Fill it in. A public listing where another person allocates real capital should carry a risk statement from the person who wrote the strategy. The platform renders a standing platform-level risk statement on every listing regardless of what you write; your field supplements that, it does not replace it.
What to put in it, at minimum: the market conditions the strategy assumes, the worst behaviour you have observed, and the fact that past performance does not indicate future results.
3. Honesty about the track record
Your listing carries figures the platform computed. You are still responsible for what a reader would reasonably infer from them.
- If the live history is short, say so in the description. Seven days is the default minimum and seven days is not a track record.
- If the strategy has only run in one kind of market, say so.
- If you materially changed the strategy after publishing, say so. Existing subscribers' copies do not update, their copy is a snapshot from the moment they deployed it, so a change you make silently creates two different strategies with one name.
4. Conduct on support channels
A listing can display a support email and support phone. Users will contact you.
You may answer questions about how the strategy works, what the rule is, what the parameters mean, what the drawdown was. You must not:
- Tell a user whether to deploy it, or with how much capital.
- Tell a user to buy or sell any instrument.
- Assess whether the strategy suits that user's situation.
- Offer to manage, monitor or adjust their deployment for them.
Answering "should I run this with ₹5 lakh?" with anything other than a redirection to their own judgement is the line. Explaining a strategy is support. Telling someone what to do with their money is advice.
What the platform enforces, and what it does not
Be clear about which of these are checks and which are your responsibility.
| Enforced by the platform | Yours |
|---|---|
| You own the strategy you publish | The description is accurate |
| Its status and days-live meet the configured thresholds | The disclaimer is filled in and meaningful |
| Its live return clears the configured minimum | Material changes are communicated |
| Non-crypto publishing requires the Research Analyst role | Conduct on support channels |
| The strategy name locks while listed | Not restating performance in your own words |
The eligibility rules other than ownership are configurable, and on some environments a master bypass switch disables all of them. Ownership is the only check that can never be turned off. If you are publishing an equity strategy, verify for yourself that you hold the registration that permits it, do not infer permission from the fact that the platform let you publish. See How listings are selected & ranked.
Open Strategy: what you are giving away
Publishing offers an Open Strategy toggle. It is a licence decision, not a display setting, and it is irreversible in one direction: once your logic is disclosed and cloned, you cannot recall the copies.
| Closed listing (default) | Open Strategy |
|---|---|
| Track record, risk profile, controls and instrument are public | All of that, plus your strategy prompt and rule logic |
| Subscribers get a copy that reproduces behaviour | Subscribers can read your exact entry and exit formula and change it |
| No consent record required | Requires recorded consent, document version, prompt hash, IP, user agent |
The consent record exists because Open Strategy is the case that discloses your logic to the community, and the platform wants a durable record that you chose it knowingly.
Full detail: Open Strategy.
Pricing
You can set a subscription price. No payment is collected. The figure is stored and displayed; there is no charging path in the platform. Do not represent a priced listing as a paid service, and do not collect payment for it outside the platform, doing so takes consideration for another person's securities strategy, which changes your own regulatory position.
Removing a listing
Unpublishing removes the listing and stops new deployments. It does not stop existing copies: users who already deployed your strategy keep running their own clone of it. If a strategy should not be traded any more, say so. You cannot switch off someone else's copy, and neither can the platform.