Future course of action after holistic legal advice, says NSE chief on co-location case ruling
National Stock Exchange chief Vikram Limaye Wednesday said there is "light at the end of the tunnel" after the Sebi orders in co-location case and all legal options will be explored before deciding the future course of action.
A day after the market watchdog passed orders in the high profile co-location case, wherein the exchange has also been directed to disgorge profits worth over Rs 1,000 crore, Limaye also asserted that there would be no bearing on the functioning of the NSE.
"When you look at the orders, you see that there is no evidence of any unfair trade practice or fraudulent trade practice... We are not being charged of any unfair or fraudulent practices," he told PTI in an interview.
On Tuesday, Sebi directed the country's largest exchange to disgorge profits worth over Rs 1,000 crore in the co-location case, wherein some entities allegedly got preferential access in high frequency trading.
The bourse has also been banned from launching any new derivative products as well .