Sebi initiates adjudication against NSE

Markets regulator SEBI has initiated adjudication proceedings against NSE as well as around 30 entities in the exchange's co-location matter. Speaking to reporters in Mumbai yesterday after its board meeting, SEBI Chairman Ajay Tyagi said adjudication has started against 28 to 30 individuals and institutions apart from the NSE. He said SEBI is applying the principles of natural justice in each case and it is trying to expedite



the cases.

The Securities and Exchange Board of India (SEBI) has been probing the alleged lapses in high-frequency trading offered through NSE's co-location facility. It is also investigating whether some brokers had unfair access to the exchange's co-location facility. The facility allows low latency and fast execution to trading members.