He had collected NSE trade data in the name of carrying out research and subsequently passed it to private persons who in turn developed an algorithm software named 'Chanakya'. market feed, before the stock broker who connected later.Ĭhanakya software According to CBI, sources revealed that public policy expert Ajay Narottam Shah had been instrumental in the exploitation of NSE TBT architecture. In this architecture, data was disseminated in a sequential manner whereby the stock broker who connected first to the server of the Stock Exchange received ticks i.e. Further, that till 2014 information was disseminated by exchange server to the brokers attached with co-location facility through 'tick by tick' (TBT) based system architecture. This particular setup of the server gives a 10: 1 (Approx.) speed advantage in comparison to other brokers. What is co-location Co-location is a setup wherein the broker's computer is located in the same area in which the server of the Stock Exchange is located.
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