CCI wing recommends action against NSE

The investigation wing of the competition watchdog Competition Commission of India (CCI) is believed to have recommended action against the National Stock Exchange (NSE) for abusing its dominant position in currency derivatives trade segment.

"...it is concluded that NSE has abused dominant position in the relevant product (currency derivatives) market of stock exchange services by directly imposing unfair and discriminatory pricing in the sale of services including predatory pricing in the CD segment...", said a report by the director general of the CCI.

After investigating a complaint by the MCX-Stock Exchange (MCX-SX), the CCI Director General has asked the Commission to "consider taking requisite remedial measures under section 27 and 28 of the Act" against the NSE.

 

Sections 27 and 28 empower CCI to issue retrain orders and impose fine.