The National Stock Exchange(NSE), India’s leading stock exchange is not new to controversy. This time, the controversy has brought NSE directly under the radar of the Securities Exchange Board of India(SEBI). The main participants of this company are Chitra Ramakrishna and Ravi Narain, the former MD & CEO of NSE, Anand Subramaniam, the exchange’s group operating officer and advisor to the MD and NSE Board itself, on other side, mysterious ‘Yogi’ with whom Ramakrishnan shared the confidential information. There are intricate details regarding the functioning and Hierarchy at NSE is the villain in this case.
NSE introduced the co-location facility in 2009, wherein the stock exchange allowed the traders to place their servers in NSE’s data centre. It also benefits the trader by having the faster access to the price feed. There are several stock exchanges which globally allows the co-location facility in the high-frequency trading.
The entire NSE came into the light in the year of 2015, after the whistleblower filled three complaints with the alleging of the SEBI and there are some traders that got the preferntial access to the co-location facilities. The whistleblower highlighted some flaws in the co-location system and has also alleged that some NSE employees were colluding with these traders.
What is the Yogi connection with the Ramakrishna. She said in her statements before SEBI dated April14, 2018. It is said that she met with Siddha Purusha/Yogi/Paramhansa, 20 years ago the river belt of Ganges and has been taking his guidance on personal and professional level. She also disclosed that corresponded with Yogi via email. In most of the conversation with Ramakrishna and Yogi, Subramaniam was also marked in the mail several times.
