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SEBI warns NSE on client code discrepancy

HT Correspondent, Hindustan Times  Mumbai, April 10, 2012
First Published: 21:51 IST(10/4/2012) | Last Updated: 21:55 IST(10/4/2012)

Securities and Exchange Board of India (SEBI) on Tuesday warned National Stock Exchange to be more cautious and perceptive in discharge of its regulatory duties on the issue discrepancy in client code modifications that occurred in March 2010.

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"The total number of client code modification was definitely high during the month of March, 2010, compared to the other months," said Prashant Saran, whole time member, SEBI. "Therefore, NSE, being the first level regulator, should have noticed these aberrations through an independent analysis and should have brought this to the notice of SEBI."

On an analysis of the data, it was found that the volume of transactions wherein modifications were done, exceeded Rs. 55,000 crore in terms of value, during the month of March, 2010.

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