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NSE pays ₹643 cr to Sebi, settles TAP misuse case
Business Standard
|October 05, 2024
The National Stock Exchange (NSE), its former managing director (MD) and chief executive officer (CEO) Vikram Limaye, and eight others on Friday settled a case pertaining to misuse of trading access point (TAP) by paying ₹643 crore to the Securities and Exchange Board of India (Sebi).
In the TAP matter, the markets regulator had issued a show cause to the exchange in February 2023. This was following its findings that there was a possibility of bypass in the system by brokers and that NSE did not take appropriate remedial steps, and other lapses.
TAP refers to a software application deployed by the NSE and used by stock brokers to establish communication (orders/trades) with its trading system.
This story is from the October 05, 2024 edition of Business Standard.
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