The National Stock Exchange (NSE) is investigating whether more broking firms apart from the three penalised by Sebi gained preferential access to the exchange’s trading platform.
In a sign that the enquiry into the co-location scam is being extended to cover more firms, the country's largest bourse is looking into the role played by 26 other brokers such as SMC Global, Shaastra Securities, Advent Stock Broking, PRB Securities, Crimson Financial and Jaypee Capital.
The NSE believes that some of these brokers allegedly gained access to secondary server of the exchange between 2010 and 2014, helping them gain an advantage.
Trading members are permitted to access the exchange’s secondary server only in case of disconnections in the primary server. But NSE officials believe that this was bypassed by some of these brokers.
Data transmission in the secondary server takes lesser time due to lower load time and orders reach exchange faster than the primary server.
“Sebi has asked NSE to probe all those brokers which have accessed the secondary server and if these firms violated fraudulent and unfair trade practices norms,” said one person with knowledge of the development.
Data sent by NSE to market regulator Sebi in May 2018 showed about six brokers connected 20-60 per cent of their internet connections to the secondary server in the F&O segment. Eight brokers connected 10-20 per cent of their IPs to the secondary server.
“The examination and investigations by NSE and regulator are in process, many of them have been issued notices and rest will be issued soon,” said another person familiar with the development. Sebi and NSE did not respond to ET queries.
Data showed 64.83 per cent of the SMC Global Securities’ internet connections in the derivatives segment were connected to the NSE’s secondary server during the years 2010-2014.
In case of OPG, 9 per cent of IPs were connected to secondary serve ..
For more information Top 10 Stock Advisory Company Indore
In a sign that the enquiry into the co-location scam is being extended to cover more firms, the country's largest bourse is looking into the role played by 26 other brokers such as SMC Global, Shaastra Securities, Advent Stock Broking, PRB Securities, Crimson Financial and Jaypee Capital.
The NSE believes that some of these brokers allegedly gained access to secondary server of the exchange between 2010 and 2014, helping them gain an advantage.
Trading members are permitted to access the exchange’s secondary server only in case of disconnections in the primary server. But NSE officials believe that this was bypassed by some of these brokers.
Data transmission in the secondary server takes lesser time due to lower load time and orders reach exchange faster than the primary server.
“Sebi has asked NSE to probe all those brokers which have accessed the secondary server and if these firms violated fraudulent and unfair trade practices norms,” said one person with knowledge of the development.
Data sent by NSE to market regulator Sebi in May 2018 showed about six brokers connected 20-60 per cent of their internet connections to the secondary server in the F&O segment. Eight brokers connected 10-20 per cent of their IPs to the secondary server.
“The examination and investigations by NSE and regulator are in process, many of them have been issued notices and rest will be issued soon,” said another person familiar with the development. Sebi and NSE did not respond to ET queries.
Data showed 64.83 per cent of the SMC Global Securities’ internet connections in the derivatives segment were connected to the NSE’s secondary server during the years 2010-2014.
In case of OPG, 9 per cent of IPs were connected to secondary serve ..
For more information Top 10 Stock Advisory Company Indore
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