Supreme Court disposes of SEBI appeals against NSE in co-location, dark fibre cases
In July, SEBI had accepted two settlement applications filed by the NSE for an aggregate amount of about ₹1,492 crore. Of this, about ₹1,224 crore pertained to the co-location case, while ₹268 crore related to the dark fibre case, also known as the leased-line connectivity case.
The Supreme Court of India has dismissed appeals by the Securities and Exchange Board of India (SEBI) against the National Stock Exchange (NSE) in two cases involving co-location and dark fibre issues. The decision came after the parties reached a settlement of nearly ₹1,500 crore, with SEBI accepting the NSE's settlement applications for an aggregate amount of around ₹1,492 crore.
The cases stem from allegations that certain brokers were given preferential access to the NSE's trading systems through its co-location facility and dark fibre connections, potentially allowing them to receive market data ahead of others.
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