Ashok Chawla quits as NSE chairman

The Securities and Exchange Board of India (Sebi) has been probing the alleged lapses in high-frequency trading offered through NSE’s co-location facility. It was also investigating whether some brokers had unfair access to the exchange’s co-location facility. In a statement, the bourse said Chawla has resigned as “Public Interest Director/ Chairman of the Board of Directors of the National Stock Exchange of India Ltd with immediate effect in light of recent legal developments.”