NEW DELHI: India’s federal power regulator on Thursday launched a probe into alleged insider trading in Indian Energy Exchange (IEX) shares by some of its employees, after receiving an interim order from the Securities and Exchange Board of India (SEBI).
SEBI, in a late Wednesday order, alleged two Central Electricty Regulatory Commision (CERC) officialstraded on price sensitive information in IEX equity and derivatives.
The information related to the impending implementation of “market coupling” in the country’s power exchanges.
A CERC spokesperson said a fact finding committee has been set up to examine the evidence and determine next steps. Three officials alleged to be involved have been placed on compulsory leave pending the inquiry.
The IEX operates a nationwide automated trading platform for the physical delivery of electricity, renewable energy, and certificates.
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