The Securities and Exchange Board of India (SEBI) on February 10, 2021 imposed a penalty of Rs 1 crore on the National Stock Exchange (NSE), and Rs 25 lakh each on Chitra Ramakrishna and Ravi Narain, the former managing director and vice-chairman of the exchange respectively, in connection with the co-location case.
- A whistleblower had alleged that NSE was giving a few high-frequency traders/brokers preferential access to its servers by allowing them to place their servers in the NSE premises that benefitted both the parties at the cost of others.
- The NSE is facilitating its members to co-locate their NNF (Non-NEAT Front-end) infrastructure at NSE premises.
