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co-location scam term-I fmkt

Anonymous Letter from Singapore to SEBI about Co-Location Scam at NSE

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co-location scam term-I fmkt

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  1. the curious case ofChitra Ramakrishna & Himalayan Yogi Presented by :- Anirudha Mohanty (23DM030) Chandan Patel (23DM006) Abdul Nadim (23DM054)

  2. I take spiritual, personal and professional guidance from him.

  3. The NSE set up a transparent screen-based trading system in 1994. SEBI’s mandate that all exchanges must have computerized systems of trade, killed of the ones with low volumes, all except BSE. By the time Chitra took over, the NSE was the sole competitor to the BSE.

  4. Anonymous Letter from Singapore to SEBI about Co-Location Scam at NSE BCC – Sucheta Dalal In 2016

  5. Main server Backup server

  6. SEBI issued an order in the NSE co-location case in 2020, which involved allegations of unfair access to the NSE’s trading systems by certain traders, known as “co-location” clients. SEBI’s investigation found that the NSE’s systems and processes were unfair, non-transparent, and discriminatory, thereby violative of the provisions of the SEBI (Stock Brokers and Sub-Brokers) Regulations, 1992 and the SEBI (PFUTP) Regulations, 2003. In its order, SEBI imposed a fine of Rs. 625 crores on the NSE for failure to ensure fair access to its trading systems. The regulator also barred the exchange from launching any new products or services for six months and directed it to conduct a forensic audit of its systems and processes. The NSE was also directed to put in place proper systems and processes to ensure fair access to its trading systems. SEBI also imposed a fine of Rs. 1 crore on the former Managing Director and Chief Executive Officer of NSE, Chitra Ramkrishna, and Rs. 25 lakhs each on three former executive directors of the exchange – Ravi Narain, R. Srinivasan and C. B. Bhave for their failure to ensure fair access to the trading systems.

  7. THANK YOU Do you have any questions?

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