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Sebi order in co-location case will not impact market, says NSE CEO Vikram Limaye

Updated : April 30, 2019 11:21 PM IST

The Securities and Exchange Board of India's (Sebi) order in the NSE co-location case will not impact the market, said Vikram Limaye, managing director and CEO, National Stock Exchange.

"The markets will function normally, the way they have been functioning in the past. It has no impact on the market, it has no impact on NSE functioning as a stock exchange as it has been for the last 25 years," said Limaye, in an interview with CNBC-TV18.

The market regulator has barred the NSE from the securities market for 6 months in the co-location case. It has directed the leading stock exchange to disgorge more than Rs 625 crore.

"Rs 625 crore with 12 percent interest is not an insignificant amount," said Limaye.

"This is not an order on NSE's functioning as a market infrastructure institution or as a stock exchange... the immediate interpretation could be that if we had any plans to go public and raise money from the markets, that cannot be done for 6 months," he explained.

"Indian markets are trusted markets by global investors. This order has no implications on the trust that investors have in the Indian market. There is nothing in here that should cause any kind of confusion in anybody's mind about the trust in the Indian market. Investors have been investing in the Indian markets over the last few years while this investigation has been ongoing, I do not think it has caused any kind of disruption for investors, markets have been functioning very well, they are very well regulated," Limaye further added.
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