NSE co-location case: Sebi penalises OPG Securities, 3 others

MUMBAI: Capital markets watchdog Sebi imposed a penalty of over Rs 5 crore on OPG Securities and three others in the NSE's co-location case.

Apart from OPG Securities, those facing penalty are -- Sanjay Gupta, Sangeeta Gupta and Om Prakash Gupta. These individuals were directors of OPG Securities during the relevant time period. Alleged lapses in high-frequency trading offered through NSE's co-location facility came under the scanner of the watchdog after a complaint was filed in 2015.

The National Stock Exchange of India (NSE) co-location facility allows stock brokers to take on rent specific racks and co-locate their servers and systems within the exchange premises.

The primar y objective of co-location services of the NSE is to reduce latency for connectivity to the exchange's trading systems for Direct Market Access (DMA), algo trading and Smart Order Routing (SOR).