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SEBI seeks MCX’s response to forensic audit

Our Bureau Mumbai | Updated on May 09, 2019 Published on May 09, 2019

SEBI has issued a notice to MCX regarding the findings of forensic auditor TR Chadha & Co which had indicated that the exchange shared key trading data with Susan Thomas of Indira Gandhi Institute of Developmental Research (IGIDR) and Delhi-based algo software designer Chirag Anand.

On April 24, BusinessLine had reported that “Forensic auditors indicate IGIDR used data shared by MCX to develop algo-trading strategy.” The report highlighted the auditor’s concerns about lapse in agreement and how ‘live data’ was shared. Though it has still not issued any show-cause notice, SEBI has mainly sought a reply from MCX and its outgoing MD Mrugank Paranjape’s response to the audit report, sources close to the matter said.

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Published on May 09, 2019
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