Mumbai: Market regulator Sebi has directed the board of commodity exchange MCX to conduct an internal enquiry into a whistleblowers complaint on alleged misuse of data provided by the exchange to IGIDR, said a person aware of the development.
The outcome of the enquiry will be intimated to Sebi.
An e-mail query to Saurabh Chandra, chairman of MCX, went unanswered till the time of writing.
Sources told ET that MCX provides tick by tick and real time data free of cost to all its member brokers. It also provides historic data to research and academic organisations for a specific objective which can be then used by the exchange or by policymakers. These historic data are provided free of cost to research organisations and for a fee to commercial users.
Unlike in the equity market, the regulator doesnt permit co-location in the commodity exchange space. Co-location facilitates a market user to place his/her server next to that of an exchange for a cost. This enables faster data access and other benefits to the user.