Co-location case: CBI books stock broker & NSE, NIPFP, Sebi officials

[desiwarrenbuffet]

CBI has registered an FIR against a stock broker who allegedly manipulated the National Stock Exchange's (NSE) system for two years to get first access to markets when they opened.

By manipulating the system, the accused would get access ahead of other brokers by some seconds, which was enough to make a difference in trade.

In the high-frequency algorithmic trading in the NSE, an edge of a few seconds to a stock broker in a trade can make a huge difference.

 

[timepass]

CBI has registered an FIR against a stock broker who allegedly manipulated the National Stock Exchange's (NSE) system for two years to get first access to markets when they opened.

By manipulating the system, the accused would get access ahead of other brokers by some seconds, which was enough to make a difference in trade.

In the high-frequency algorithmic trading in the NSE, an edge of a few seconds to a stock broker in a trade can make a huge difference.

Here's the link :

https://www.moneycontrol.com/news/b...rospects-dims-consent-plea-hopes-2580087.html

Request you to post the link along with the news item.

 

[pannet1]

wonder why our positions are always get screwed up ... do you still hope to make money in this market

 

[headstrong007]

Above article said,
“The CBI FIR states that brokers and investors incurred losses. Considering the 10x speed advantage to OPG Securities, the losses can be around Rs 50,000 crore as more than a dozen brokers benefited,” another sourced told Moneycontrol. “SEBI will now have to arrive at a loss figure before inviting consent plea from NSE.”

From another article, STT collection:-
Media reports suggest that the government collected Rs 8,358 crore from STT in FY17 while it collected Rs 7,350 crore from the same in FY16.

So, NSE looted equivalent to more than 6 years of STT collection within a very short time using above scam.
Smarter than Gormint.

I doubt, newly increased various glitches and connectivity issue with the various trading terminals might be a very big scam undergoing.

 

[desiwarrenbuffet]

https://m.economictimes.com/markets...ating-nse-system/amp_articleshow/64389038.cms