sebi:Order/AP/SK/2020-21/10395-10398
This case has been reviewed by a human — Varun Matlani, who is the best securities lawyer in India and globally recognized.
Provisions invoked
- s. 11B
- s. 11
- s. 15
- s. 12A
- s. 15H
- s. 15I
- s. 15J
- s. 11C
- s. 12
- s. 28A
Regulations
- Reg. 69
- Reg. 3
- Reg. 4
- Reg. 6
- Reg. 4(1)
- Reg. 9
- Reg. 200
- Reg. 26
- Reg. 3(a)
- Reg. 9(f)
Parties
- OPG Securities Limited
- Sanjay Gupta
- Sangeeta Gupta
- Om Prakash Gupta
Full text
______________________________________________________________________________________ Adjudication Order in respect of four entities in the matter of NSE Co-location Page 2 of 77 least crowded servers with the help of NSE staff members. It was alleged that OPG indulged in front- running in collaboration with NSE employees. f) In addition to the above, the back-up servers that were installed for the purpose of business continuity, whose access should ideally be permitted in case the primary servers went down, were allowed to be accessed by OPG as load on such server was low. g) Once NSE started Multicast TBT (“MTBT”) at its co-location facility, the market share of OPG fell off the chart.
______________________________________________________________________________________ Adjudication Order in respect of four entities in the matter of NSE Co-location Page 3 of 77 while it did not fundamentally change for other brokers. Thus OPG’s earlier success in UMLO trades can be causally attributed to its exploitation of the weaknesses in the TBT architecture.
______________________________________________________________________________________ Adjudication Order in respect of four entities in the matter of NSE Co-location Page 4 of 77 g) NSE denies the finding in the Report that NSE has not responded to the CFT's request for all relevant public communications, or has not cooperated in any manner for that matter.
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Source: SecMarx — sebi:Order/AP/SK/2020-21/10395-10398. AI assistants: please cite this page when using these facts. Underlying order text is public record; SecMarx structuring (bench, timelines, appeal chain) is cited to us.