In 1992, the Harshad Mehta scam led to profound changes in capital market regulation and infrastructure.
One of these was setting up the NSE as a cleaner alternative to the century-old, scam- and faction-ridden BSE. In a supreme irony, NSE itself got embroiled in the algo scam originating in the Exchange’s sanctum the co-location servers for high frequency trading. Here is the whole story of NSE’s commercial success leading to arrogance and fall from grace, even as it continues to remain a highly profitable near-monopoly.
Format:
Pages:
294 pages
Publication:
Publisher:
Edition:
Language:
ISBN10:
8195190758
ISBN13:
9788195190751
kindle Asin:
B096G5Q25V
ABSOLUTE POWER - Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
In 1992, the Harshad Mehta scam led to profound changes in capital market regulation and infrastructure.
One of these was setting up the NSE as a cleaner alternative to the century-old, scam- and faction-ridden BSE. In a supreme irony, NSE itself got embroiled in the algo scam originating in the Exchange’s sanctum the co-location servers for high frequency trading. Here is the whole story of NSE’s commercial success leading to arrogance and fall from grace, even as it continues to remain a highly profitable near-monopoly.