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Sebi bars NSE from capital markets for 6 months in co-location scam

Two former NSE chief executive officers, Ravi Narain and Chitra Ramkrishna, to disgorge 25 per cent of their salaries

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Agencies New Delhi
The market regulator said on Tuesday the National Stock Exchange (NSE) did not exercise due diligence when putting in place a network that allowed high frequency traders unfair access to some network servers at the exchange.

The Securities and Exchange Board of India (Sebi) barred the NSE from raising money on the securities market directly or indirectly for six months.

Sebi has been investigating allegations that NSE officials provided high frequency traders unfair access through co-location servers placed at the site of exchange, which could speed up algorithmic trading.

It asked two former NSE chief executive officers, Ravi Narain and Chitra Ramkrishna, to

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First Published: Apr 30 2019 | 8:34 PM IST

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