Insider and SAST Trade Monitoring for Research Analysts
The numbers in a results filing tell you what a company did last quarter. Insider and SAST disclosures tell you what the people who know it best are doing with their own money right now. For a Research Analyst, that is a signal worth tracking. Here is what these filings are, why they matter, and how to surface the ones that touch your clients.
What these filings cover
SAST disclosures, under the takeover rules, flag substantial changes in shareholding. Insider disclosures, under the prohibition of insider trading rules, cover dealings by promoters, directors and key managerial personnel, including the pledge or release of promoter shares. Read together, they show you the behaviour of the people closest to the company: who is buying, who is selling, and who is borrowing against their stake.
Why they are a real signal
A promoter pledging a large block, or insiders quietly accumulating ahead of a result, is information you will not find on the balance sheet. It is factual and public, and it is often material to a stock your clients hold. A note that says โthe promoter has pledged X% of holding, here is the disclosureโ is exactly the kind of factual, sourced research a client values, and it sits comfortably inside the rules.
The line: analysing a published disclosure is normal research. Acting or advising on unpublished price-sensitive information is insider trading and is a serious offence. Always work from the public filing.
Surfacing the ones that matter
The volume problem is the same as with any exchange feed: hundreds of disclosures a day, a handful that touch your book. Aktai parses SAST and insider disclosures and ties them to the clients who hold the stock. A large promoter pledge in a name three of your clients own surfaces at the top of your dashboard, weighted by exposure, and you can draft a factual note on it in seconds and send it white-label. The signal reaches the client while it still means something.
FAQ
What are SAST and insider-trade disclosures?
SAST refers to the Substantial Acquisition of Shares and Takeovers rules, under which large changes in shareholding are disclosed. Insider-trade disclosures, under the PIT regulations, cover dealings by promoters, directors and key managerial personnel. Together they tell you what the people closest to a company are doing with their own holdings, including pledges.
Why should a Research Analyst care about them?
Because they are a signal you cannot get from the income statement. A promoter pledging a large block, or insiders buying ahead of results, is information your clients want flagged. It is factual, public, and often material to a holding, exactly the kind of event a research note should cover.
Is acting on these filings allowed?
Yes, when you use the public disclosure itself. These are filings the company or insider has already made public. Reporting and analysing a published disclosure is normal research. What you must never do is trade or advise on unpublished price-sensitive information, which is a separate and serious matter.
How does Aktai surface insider and SAST filings?
Aktai parses SAST and insider disclosures from the exchanges and ties them to the clients who hold the stock. A large promoter pledge in a name three of your clients own surfaces at the top of your dashboard, and you can draft a factual note on it in seconds.