Sebi building team to police algo trades

Regulator to mass-hire cyber experts to stay ahead in the game

Markets regulator Securities and Exchange Board of India (Sebi) is in the process of building a team for efficient monitoring and surveillance of algorithm trading, which makes up for a significant portion of cash and derivatives market volumes.

“The market is fast evolving. Traders are creating new algorithms to maximise gains in the market. Sebi needs to stay on top of the game to prevent abuse of the marketplace. With this objective, we are trying to build a large team of software experts,” said a senior Sebi official in the surveillance department. 

Sources said the Sebi is screening internal candidates