The National Stock Exchange (NSE) on August 18 moved the Competition Appellate Tribunal (CAT) challenging the Competition Commission of India (CCI) order that had charged a penalty of Rs 550 crore while accusing the country's largest bourse with abuse of dominant position in the currency futures segment. India’s largest stock exchange has argued that the CII order is antithetical of principal purpose of the Competition Act, which promotes consumer welfare.
The CCI penalty of Rs 550 crore is the second highest as of now. Last week CCI has levied biggest penalty of Rs 630 crore on DLF. For NSE, the Appellate Tribunal is the first level of appeal. Without giving details, an NSE spokesperson confirmed that NSE had appealed to CAT.
In its appeal, NSE has asked interim relief from the payment of penalty and from any possible claims by MCX-SX or from any other party. Earlier, MCX-SX has indicated that it will explore the possibility of claiming compensation for losses and damages. The MCX-SX has argued that by not charging fee on the currency derivatives segment, NSE was using its dominant position in the market to the detriment of other players.
The NSE in its appeal to CAT said that following the CCI order, it has been mandatory to levy charges along with indications that MCX-SX and United Stock Exchange would also follow suit. After the issuing of order by CII, the NSE is witnessing decline in trade volumes in the Currency Derivative segment, and its share in the Currency Derivative segment has reduced by 8-9 %.
MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.
To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.
MoneyWorks4Me ensures this through: