CCI rejects complaint against National Stock Exchange

CCI rejects complaint against National Stock Exchange
Highlights

The Competition Commission has dismissed a complaint of discriminatory conduct made against the National Stock Exchange NSE with regard to alleged preferential access extended to certain trading members in the colocation case

The Competition Commission has dismissed a complaint of discriminatory conduct made against the National Stock Exchange (NSE) with regard to alleged preferential access extended to certain trading members in the co-location case.

"The allegations against the NSE are yet to be established in an appropriate proceeding", the CCI said in an order as it dismissed the complaint. The regulator noted that the genesis of the NSE co-location case dates back to 2015, when a whistle-blower wrote a letter to Sebi alleging that the NSE gave preferential access to a few high-frequency traders and brokers to the exchange's trading platform.

Sebi is already looking into the case. In a complaint to the CCI, Rajasthan-based advocate Jitesh Maheshwari had alleged that the NSE by giving unfair access has limited and restricted the provision of services to other trading members availing the co-location service.

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