SEBI to challenge Securities Appellate Tribunal order in NSE co-location scam: What is the case?

9 days ago The Indian Express

The Securities and Exchange Board of India (SEBI) will challenge the order of the Securities Appellate Tribunal (SAT), which set aside Rs 624 crore disgorgement order against the National Stock Exchange (NSE) by the market regulator in the co-location scam, according to a report by The Indian Express. Apart from this, SAT directed NSE to deposit Rs 100 crore to the Investor Protection and Education Fund (IPEF) created by the SEBI. The NSE introduced co-location facilities in 2009 and offered traders/brokers the ability to place their servers within NSE’s data centre for a fee. By being in close proximity to the stock exchange servers, traders/brokers would have faster access to the price feed and the execution of trades, due to the low latency connectivity. What is the NSE co-location case?
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