NSE algo controversy heads for closure

Capital markets regulator Securities and Exchange Board of India (Sebi) has issued show-cause notices to the National Stock Exchange (NSE) and 14 individuals as a part of a probe against the exchange in the “unfair access” controversy. 

Sebi has sought inputs and explanations on alleged lapses at the exchange that came to light after the regulator’s internal probe and also one by third-party auditor Deloitte India. Sources said Sebi had expedited a probe in the matter and a final order could be passed within two months. 

Among those issued the notices are former chief executive officers (CEOs) Chitra Ramkrishna and Ravi Narain.