NSE, Nine Others Settle SEBI Algo Trading TAP Bypass Case for Rs 643 Crore ($76.5 Million)

Oct 4, 2024, 12:34 PM

The Securities and Exchange Board of India (SEBI) has passed a settlement order in a case involving the National Stock Exchange (NSE) and nine others regarding unfair access in algorithmic trading software. NSE, along with its former chief Vikram Limaye and other applicants, settled the case related to the bypass of the Trading Access Point (TAP) system by remitting Rs 643 crore ($76.5 million) to SEBI. The remittance was made on September 25, 2024, disposing of proceedings initiated against the applicants.