Showcase to Exchange employees in case of disruption of trading on NSE
MUMBAI: The Securities and Exchange Board of India (SEBI), the regulator of the capital market, has issued show-cause notices to top NSE employees in connection with the historic long trading disruption on the National Stock Exchange (NSE) on February 4. This is the first time that SEBI employees have been held personally responsible for disrupting trading. These notices include violations of SEBI's stock exchange norms, including defects in conducting trades and lack of adequate surveillance system to ensure market integrity. It is learned that SEBI is also investigating the role of NSE separately at the institutional level. However, SEBI and NSE have not yet clarified the matter. It may be noted here that on February 8, trading on India's largest exchange NSE was halted for a long time due to connectivity issues by telecom providers. This time the NSE backup system was also not working which resulted in disruption of trading on the exchange for more than four hours. SEBI ...