[ad_1]
 "National Stock Exchange, NSE")
Photographer: Dhiraj Singh/Bloomberg
India’s National Stock Exchange has paid 6.43 billion rupees ($76.5 million) to settle a case related to unfair access to its algorithmic trading software, India’s markets regulator said Friday.
The regulation removes an obstacle to the first public listing of the country’s largest stock exchange, for which it had first filed an application in 2016.
Click here to join us on WhatsApp
The exchange has restarted its IPO process and requested a “no objection” from the Securities and Exchange Board of India, Reuters reported in August, citing sources.
The case was based on allegations that some traders used the exchange’s Trading Access Point software to initiate algorithmic orders, much higher than they were allowed, in an attempt to crowd out orders from brokerages competitors.
Separately, the regulator last month rejected charges against the NSE, accusing it of collusion and market violations linked to its co-location system, which allows trading members to place servers on the exchange’s premises to faster access.
First publication: October 4, 2024 | 7:31 p.m. STI