Sebi sends notice to NSE on alleged misuse of trading software – sebi sends notice to nse on alleged misuse of trading software
Sebi has sought an explanation from the NSE that a growing number of share traders had tampered with the software to settle thousands of orders. This automatically reduces the number of willing investors through the system without this matter coming to light.
In 2013, the alleged misuse of TAP (Trading Access Point) software was discovered by Revenue officials during an investigation into a co-location scam. In this, former NSE chief Chitra Ramakrishna and Ravi Narayan were mentioned by the investigating agency as guilty. The action process in this regard is currently going on at the court level.
SEBI has also cracked down on some broker companies, individuals who are trading shares in the last few days. Especially through popular social media such as Telegram, WhatsApp, share buying or selling tips are being traded on this platform. During this action, the market regulatory body has claimed that due to such tips, investors are misled and sometimes suffer losses. The persons doing such transactions, their companies and the mobiles from which they handle social media platforms are all being disclosed by SEBI from time to time.
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