SEBI Initiates Enforcement Action In NSE Co-Location Case
Enforcement action in NSE co-location case will be completed and made public in the next few days, SEBI chief says.
Markets regulator SEBI today said it has initiated enforcement action against various entities in the NSE co-location case.
"We have received the NSE investigation report in the co-location case... have initiated enforcement actions," Securities and Exchange Board Chairman Ajay Tyagi said in a press conference today following a board meeting. In the coming few days, enforcement action would be completed against the entities, he added.
Tyagi also said that the investigation has nothing to do with the National Stock Exchange’s proposed initial public offer.
The watchdog has been probing the alleged lapses in high-frequency trading offered through the National Stock Exchange’s co-location facility. The regulator was investigating allegations that some brokers had unfair access to NSE’s high frequency trading systems.
In March, the NSE said SEBI had returned its consent application in the case due to the ongoing investigation.
The exchange’s Rs 10,000 crore IPO has been delayed because of the probe and the regulator had earlier issued show-cause notices to several individuals and the exchange while also probing the role of some brokers.