NSE files plea with Sebi for settlement of co-location issue

Country’s largest bourse National Stock Exchange ( NSE) on Thursday filed an application with market regulator Securities and Exchange Board of India ( Sebi) for settlement of the co-location case.

ETNow reported quoting sources that NSE will work with the market regulator on an early resolution of the high-frequency trading (HFT) probe.
Sebi will review the application and suggest future action on the issue.HFT) probe.

Sebi is likley to review consent application and will advise future action.

“NSE has filed an application on Thursday with Sebi for settlement of the colocation issue under the consent process. This application has been filed under the settlement regulations of Sebi. Sebi will review the application and get back to NSE on the future course of action. NSE will work with Sebi on early resolution of this matter,” the bourse said in a notification.

Vikram Limaye, former head of infrastructure lender IDFC, who took over as Managing Director and Chief Executive Officer of the National Stock Exchange (NSE) on Monday, recently said his immediate priority would be to sort of regulatory issues.

Limaye had earlier said his company would go public only after regulatory issues are sorted out. His appointment has come at a time when the nation’s premier bourse is battling allegations that it gave some of its clients preferential access to servers at its co-location centre between 2010 and 2014.