NSE IPO Update: Exchange Offers Record Rs 1,388 Cr To SEBI To Settle Co-Location Case
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NSE IPO: NSE proposes a Rs 1,388 crore settlement to SEBI for co-location and dark fibre cases. SEBI chief confirms no IPO obstacles.
NSE IPO: The National Stock Exchange (NSE) is seeking to resolve the longstanding co-location and dark fibre cases with the Securities and Exchange Board of India (SEBI) by proposing a payment of Rs 1,388 crore, according to a report of Economic Times. This marks the highest settlement offer by any entity to date.
Settlement Details NSE has proposed Rs 1,165 crore to settle the co-location case and Rs 223 crore for the dark fibre issue, as per documents reviewed by ET.
The co-location case involves allegations that certain brokers gained an unfair advantage by placing their servers closer to NSE's trading system within its co-location facility, enabling faster access to data and trades. This raised concerns about market manipulation and lack of fair access. SEBI's initial order in 2019 imposed significant penalties, which NSE contested before SAT. Although SAT ruled leniently, SEBI has appealed to the Supreme Court, where the case is still pending.
The dark fibre case involves allegations that between 2009 and 2016, NSE provided certain brokers with preferential access to co-location facilities via unauthorised 'dark fibre" links. These private high-speed network lines allegedly allowed these brokers to trade faster than others, giving them an unfair edge.
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June 25, 2025, 11:46 IST
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