Post unearthing evidence that some traders on the exchange had illicit access to market data and trading systems, the Securities and Exchange Board of India’s (Sebi’s) technical advisory committee has recommended action against NSE.
National Stock Exchange (NSE), India’s largest bourse seems to have been pulled up by the Securities and Exchange Board of India.
Post unearthing evidence that some traders on the exchange had illicit access to market data and trading systems, the Securities and Exchange Board of India’s (Sebi’s) technical advisory committee has recommended action against NSE,
The capital market regulator has also been asked by the committee to find out if there was a “collusion” between NSE officials and a trading firm, OPG Securities, the report said.
In its meeting last month, the regulator had accused NSE of violating the norms by providing unfair access to traders thereby benefiting brokers. However, the exchange has denied the persistent allegations, as per the report.
Immediate action on the lapses by NSE’s could be taken under the committee's guidance. Additionally, a team consisting of members relevant to resolve the issue could be formed by the regulator for a more effectual investigation, industry experts believe, added the report.
National Stock Exchange (NSE), India’s largest bourse seems to have been pulled up by the Securities and Exchange Board of India.Post unearthing evidence that some traders on the exchange had illicit access to market data and trading systems, the Securities and Exchange Board of India’s (Sebi’s) technical advisory committee has recommended action against NSE,
The capital market regulator has also been asked by the committee to find out if there was a “collusion” between NSE officials and a trading firm, OPG Securities, the report said.
In its meeting last month, the regulator had accused NSE of violating the norms by providing unfair access to traders thereby benefiting brokers. However, the exchange has denied the persistent allegations, as per the report.
Immediate action on the lapses by NSE’s could be taken under the committee's guidance. Additionally, a team consisting of members relevant to resolve the issue could be formed by the regulator for a more effectual investigation, industry experts believe, added the report.
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