Sebi initiates adjudication against NSE

NewsBharati    13-Dec-2018
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Mumbai, December 13: Markets regulator SEBI has initiated adjudication proceedings against NSE as well as around 30 entities in the exchange's co-location matter.


 

SEBI Chairman Ajay Tyagi said adjudication has started against 28 to 30 individuals and institutions apart from the NSE on Wednesday after its board meeting. He said SEBI is applying the principles of natural justice in each case and it is trying to expedite the cases.

"SEBI has received inputs from forensic auditors and technical entities and action is being initiated against institution and individuals in NSE co-location case. The action will be made public in a few days," Tyagi had said.

The Securities and Exchange Board of India (SEBI) has been probing the alleged lapses in high-frequency trading offered through NSE's co-location facility.

It is also investigating whether some brokers had unfair access to the exchange's co-location facility. The facility allows low latency and fast execution to trading members.

Earlier in June, the SEBI chairman had told reporters that the market regulator is initiating action in the NSE algo or co-location scam