NSE bars OPG Securities for six months

The National Stock Exchange (NSE) has suspended Delhi-based OPG Securities from any trading, on the charge of exploiting of the co-location server to obtain unfair access to the bourse’s trading systems.

The exchange has barred OPG from all segments--capital market, equity derivatives and currency derivatives. The ban will be for six months, between September 29 and March 28, 2018. “OPG Securities will be suspended for six months as trading membe rof all segments of this exchange with immediate effect after observance of necessary formalities and any other prescribed procedural requirements. Communication to this effect has been issued to the member,” said a NSE spokesperson.

This is the first penal action taken by the exchange against a trading member in the NSE co-location controversy. Reportedly, six to seven more brokers could face a similar suspension.