NSE's Vikram Limaye expects forensic reports on co-location case in a month

Looking for appropriate and a timely resolution to the ongoing probe into the co-location issue, newly-appointed NSE chief executive Vikram Limaye today said consultancy EY is likely to submit its forensic audit report on the issue in a month. On his first day in office as NSE's managing director and chief executive, Limaye told PTI that his top priority is to resolve the co-location issue and to ensure that the exchange fully cooperates with the regulator Sebi on the same. The case relates to some brokers allegedly getting preferential access through co-location facility, early login and access to the 'dark fibre'-- which can allow them a split- second faster access to datafeed of the exchange. Even a split-second faster access can yield huge gains for a trader. Commodity Trading Tips

Through these facilities the traders in the currency derivatives and cash segments allegedly made huge gains. While NSE has engaged Deloitte for a forensic audit of its equity derivatives platform, it has asked EY to carry out a forensic audit into cash markets and currency derivative platforms of the NSE is still underway. "There are one or two things which are awaited. One is the EY forensic audit report on currency derivatives and the same on cash markets is likely to be out in three to four weeks...Resolution of the co-location issue is my top priority and our dialogue with Sebi in this regard is ongoing," Limaye told PTI over the phone. Nifty Trading Tips