Algo Scam: NSE Filed Fresh Consent Application, Says SEBI
Market regulator Securities and Exchange Board of India (SEBI) has said that the National Stock Exchange (NSE) has filed fresh consent application in the co-location or Algo trading scam. 
Speaking with reporters, SEBI chairman Ajay Tyagi, said, "We have already issued about 28-30 show-cause notices (SCN) in this matter. NSE has filed an (consent) application and we will consider this appropriately."
Responding on the NSE consent application, Anant Barua, the newly-appointed whole-time member of SEBI, said, "Earlier we had returned the application. It was not rejected."
Earlier, in March, SEBI returned NSE's consent application citing pending investigations in the algo scam case. 
Last week, the market regulator had reportedly asked five top officials from NSE to ‘stay out of action’ in the co-location scam. These officials include Ravi Varanasi, NSE's chief of business development, Suprabhat Lala, senior vice-president for regulatory and investor services cell, SRVS Nagendra Kumar, chief business officer for debt, Deviprasad Singh, vice president and head for IT and Mahesh Soparkar, vice president of special projects at the Exchange.
 While NSE was trying to go for a consent order in its algo or high frequency trading (HFT) or algorithmic (algo) scam to ‘put the past behind’ and launch its initial public offering (IPO), on 3 July 2018, the market regulator issued a second set of SCNs in its probe into the algo scam.
The second set of SCNs alleges that NSE has undergone practices of denial of services to certain stockbrokers resulting in discrimination and non-adherence to principle of fairness and equal opportunity by allowing Way2Wealth (W2W) and GKN Securities to terminate the connections directly in the rack placed inside the exchange’s co-location facility. This, the SCNs say, is in complete contradiction to the  normal practice followed by NSE.
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