INSUBCONTINENT EXCLUSIVE:
NEW DELHI: In a sensational case, CBI has booked unknown officials of National Stock Exchange (NSE), Securities Exchange Board of India
(Sebi), promoter of stock-trading company OPG Securities Sanjay Gupta and an economist and former consultant in the finance ministry, Ajay
Narottam Shah, for manipulating NSE software to get prior access to the markets after opening, ahead of other brokers by some seconds, to
make gains in the trade.
Gupta, his brother-in-law Aman Kokrady and Shah, a data cruncher cum researcher, allegedly connived with
unidentified NSE and Sebi officials to access market feed in advance between 2010 and 2014, allowing them to gain in the trading
About Shah, CBI says, he had collected NSE trade data in 2005-06 under the garb of doing research and was instrumental in exploitation of
the server architecture of NSE in criminal conspiracy with unknown officials of NSE
area as the server of stock exchange) during 2010-14 that enabled to log in first to the exchange server of the stock exchange that helped
based system architecture, wherein the one who connected with the server first will get all market feed.
In 90 per cent of cases, it emerged
Gupta managed the data centre staff of NSE to get connected to the back-up servers, which had zero load and provided far better and faster
access to market feed to OPG Securities in comparison to other brokers, CBI alleged.
When Sebi started an inquiry in the matter, he
FIR alleged.
After collecting NSE trade data, he passed it on to private persons who in turn developed an algorithm software named
It was Shah who had sold the software of OPG Securities.
