NSE bars OPG Securities for six months in a co-location case
Early login and dark fibre allow a trader a split-second faster access to data feed of an exchange.
New Delhi: Leading exchange NSE has imposed a six-month ban on trading member OPG Securities -- which is at the centre of the co-location case.
The case relates to some brokers allegedly getting preferential access through co-location facility at the NSE, early login and dark fibre, which can allow a trader a split-second faster access to data feed of an exchange.
Even a split-second faster access is considered to result in huge gains for a trader. In a circular, the bourse said OPG Securities will be suspended from trading in the "capital market, futures and options and currency derivatives segments".
The suspension will be effective September 29, 2017, till March 28, 2018, the circular issued yesterday said. Markets regulator Sebi is probing the NSE co-location case. In July, Sebi Chairman Ajay Tyagi had termed the co- location case as "a serious matter".