MUMBAI India's capital markets regulator on Thursday said bourses must allow connectivity between co-location servers of brokers housed in different exchanges.Amending the rules governing co-location facilities, or servers placed near exchanges to maximise trading speed, the Securities and Exchange Board of India (SEBI) said bourses must 'ensure complete control and jurisdiction' over their co-location facility. They should also submit a quarterly compliance reporting regarding any outsourcing services, the market regulator said. The exchanges must offer 'direct connectivity between servers of a stock broker placed in co-location facility of a recognised stock exchange and servers of the same stock broker placed in co-location facility of a different recognised stock exchanges,' SEBI said. It added exchanges will also need to implement these changes within a month.
For statement: bit.ly/2gbnTBP
(Reporting by Rafael Nam; Editing by Vyas Mohan)
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Updated Date: Dec 01, 2016 22:30 PM