Keen to resolve NSE's co-location issue as soon as possible: Sebi chairman

Following NSE's submission of the latest forensic reports on the co-location issue, Sebi chairman Ajay Tyagi on Friday said the regulator is looking for a quick resolution of the matter.

"We will see how we proceed, but we want to resolve it (the case) as soon as possible," Tyagi told PTI on the sidelines of an event here.

The case relates to some brokers allegedly getting preferential access to NSE servers through co-location facility during 2011-14. The exchange discontinued the facility since 2014.

The issue took a different turn yesterday with the Income Tax department raiding some NSE brokers.

The controversy has also delayed the proposed public issue of the exchange and the new CEO Vikram Limaye had said that the public float would take place only after the co-location issue was resolved.

A Sebi probe is also underway to quantify the unlawful gains made by the brokers allegedly in connivance with some top NSE officials.

The National Stock Exchange has submitted a forensic audit report on the issue, prepared by consultancy EY, to the regulator Sebi for a review, a few days ago.

Besides, the exchange has also submitted a study conducted by the ISB to determine whether certain NSE brokers made any abnormal profits as a result of getting preferential access to the servers of the exchange with the co-location facility.

The ISB was roped into verifying whether the brokers named by the Deloitte forensic report had indeed profiteered through the facility.