Sebi order on NSE: TCP/IP, TBT is fine but where is the money? Who benefited?

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National Stock Exchange building at BKC, Mumbai

Synopsis
The Sebi order points out the National Stock Exchange for grave operational lapses. While it does not signal any fraud by the exchange or its officials, it holds them responsible for failing to ensure equal and fair access to its high-speed trading systems to all. ET Prime accessed the order for a deep dive.

The way co-location facility has been mismanaged and manipulated by certain trading members with the active connivance of an unauthorised service provider and the officials of NSE … shows NSE's apathy towards the principle of transparency, fairness, and equity mandated by Sebi on them. The observations by the Securities and Exchange Board of India (Sebi) in the dark fibre matter, one of the five orders covering National Stock Exchange (NSE)