Indian Watchdog Rejects Complaint Against NSE Of Anti-Competitive Practices

Competition Commission of India (CCI) has rejected a complaint of alleged anti-competitive practices made against the National Stock Exchange (NSE) with respect to its co-location facilities.

While closing the case, the regulator emphasized that its “findings reflect the views of the Commission purely from the standpoint of the provisions of the Competition Act, 2002 and may not be construed as expressing any opinion on merits, in any manner, in respect of other ongoing proceedings against NSE.”

It was alleged that the exchange abused its dominant position with respect to co-location facilities.

To assess the complaint, the CCI considered the “market for providing co-location services for Algo-trading in securities to the trading members in the territory of India” as the relevant one.

In its 28-page order dated June 28, CCI also mentioned about markets regulator Sebi’s finding with respect to NSE’s co-location facilities.

“The Commission notes that insofar as the allegations have been made in respect of the abuse of dominant position by NSE in provision of co-location facility, the same would be required to be examined within the four corners of the Act,” the CCI noted.

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.