NEW DELHI: Markets regulator Sebi on Friday partly comfortable the order towards OPG Securities and 3 directors in co-location facility case by way of allowing the stock dealer to near open positions in the F&O and forex derivatives segments inside of two months.
On Tuesday, the Sebi had barred OPG Securities and its 3 directors from markets for 5 years and requested them to disgorge unlawful positive aspects value Rs 15.57 crore in conjunction with 12 in line with cent annual pastime for gaining unfair benefit over different buying and selling participants by way of connecting to secondary server on day by day basis with out valid causes in NSE's co-location facility.
Following the order, it is understood that OPG Securities is holding open positions in the futures and options (F&O) and forex derivatives segments at the end of buying and selling on April 30, 2019, which need to be closed, the regulator mentioned.
Accordingly, "the directions issued vide the final order shall stand relaxed for the limited purpose of allowing the noticees to close the open positions in the futures and options and currency derivatives segments of OPG Securities Pvt Ltd on or before the expiry date of the respective contracts or within a period of two months from April 30, 2019, whichever is earlier," the Sebi mentioned.
Noticees are OPG Securities and its 3 directors Sanjay Gupta, Sangeeta Gupta and Om Prakash Gupta.
However, the comfort is matter to sure conditions, the Securities and Exchange Board of India (Sebi) mentioned.
On Tuesday, the Sebi had barred OPG Securities and its 3 directors from markets for 5 years and requested them to disgorge unlawful positive aspects value Rs 15.57 crore in conjunction with 12 in line with cent annual pastime for gaining unfair benefit over different buying and selling participants by way of connecting to secondary server on day by day basis with out valid causes in NSE's co-location facility.
Following the order, it is understood that OPG Securities is holding open positions in the futures and options (F&O) and forex derivatives segments at the end of buying and selling on April 30, 2019, which need to be closed, the regulator mentioned.
Accordingly, "the directions issued vide the final order shall stand relaxed for the limited purpose of allowing the noticees to close the open positions in the futures and options and currency derivatives segments of OPG Securities Pvt Ltd on or before the expiry date of the respective contracts or within a period of two months from April 30, 2019, whichever is earlier," the Sebi mentioned.
Noticees are OPG Securities and its 3 directors Sanjay Gupta, Sangeeta Gupta and Om Prakash Gupta.
However, the comfort is matter to sure conditions, the Securities and Exchange Board of India (Sebi) mentioned.
NSE co-location case: Sebi partially relaxes order against OPG Securities, 3 directors
![NSE co-location case: Sebi partially relaxes order against OPG Securities, 3 directors]()
Reviewed by Kailash
on
May 03, 2019
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