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The NSE co-location scam relates to the market manipulation at the National Stock Exchange of India, India's leading stock exchange. Allegedly select players obtained market price information ahead of the rest of the market, enabling them to front run the rest of the market, possibly breaching the NSE's purpose of demutualisation exchange governance and its robust transparency-based mechanism. The alleged connivance of insiders by rigging NSE's algo-trading and use of co-located servers ensured substantial profits to a set of brokers. This widespread market fraud came to light when markets' regulator, the Securities and Exchange Board of India (SEBI), received the first anonymous complaint through a whistle-blower's letter in January 2015. The whistle-blower alleged that trading members were able to capitalise on advance knowledge by colluding with some exchange officials. The overall default amount through NSE's high-frequency trading (HFT) is estimated to be ₹500 billion over five years.
References
- 1 2 "SEBI allows exit of Coimbatore Stock Exchange as bourse". The Hindu. 4 April 2013. Retrieved 3 February 2014.
- ↑ "Coimbatore SE members allowed to furnish personal guarantee". Coimbatore. The Indian Express. 20 June 1997. Archived from the original on 21 February 2014. Retrieved 3 February 2014.
- ↑ Vijaykumar, Arun (30 March 2018). "Sebi seeks more time to mull battleground Coimbatore stock exchange's future". Pune. Economic Times. Archived from the original on 21 February 2014. Retrieved 3 February 2014.
- ↑ R Y, Narayanan (5 January 2005). "Hopes on revival of Coimbatore bourse". Coimbatore. The Hindu . Retrieved 3 February 2014.
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