Leading stock exchange NSE today submitted the forensic audit report on the co-location issue, prepared by consultancy EY, to the regulator Sebi.
Besides, the exchange 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.
It can be recalled that earlier, Deloitte, after a forensic audit, had named a few brokers who had profiteered with this facility.
"The NSE today submitted to the Securities and Exchange Board (Sebi) the reports prepared by EY and ISB relating to the co-location matter, that is being reviewed by Sebi," the exchange said in a statement.
The case relates to some brokers allegedly getting preferential access to NSE servers through co-location facility, early login and access to the 'dark fibre'-- which can allow them a split-second faster access to datafeed of the exchange. Even a split-second faster access can yield huge gains for a trader.
While the nation's largest bourse had engaged Deloitte for a forensic audit of its equity derivatives platform, it entrusted EY to carry out a forensic audit into cash markets, currency derivative and interest rate futures platforms.
The controversy has delayed NSE's IPO plans. Its rival BSE has already gone public in January.
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