SEBI orders do not affect functioning as an exchange, says NSE

A day after SEBI passed orders against it in the co-location case, National Stock Exchange said on May 1 the orders do not affect its functioning as a recognised stock exchange. The markets regulator on April 30 directed the bourse to disgorge profits worth over Rs 6870000000 along with interest besides barring it from launching any new derivative products as well as from accessing the securities market directly or indirectly for six months. Together with interest, the total disgorgement amount would be more than Rs 1,0000000000. "Normal trading on NSE in all segments will continue from Thursday, May 2, 2019. Wednesday, May 1, 2019 is a trading holiday on account of May Day," the bourse said in a statement. SEBI's orders would do not affect its functioning as a recognised stock exchange, the statement added. Strict action has also been taken against some present and past executives of the exchange and some stock brokers.