Emkay says NSE disallows annulment of erroneous trades

Last Updated: Thu, May 02, 2013 07:02 hrs

MUMBAI (Reuters) - Emkay Global Financial Services said on Thursday the National Stock Exchange (NSE) has disallowed the annulment of trades carried out in a series of large erroneous orders by the brokerage on October 5, 2012.

Emkay said it is considering legal action, including challenging the decision.

Last October, a series of large erroneous orders were made on a broad basket of shares by a broker at Emkay that sent NSE's main index tumbling as much as 15.5 percent and forced suspension of trading for several minutes.

(Reporting by Prashant Mehra; Editing by Prateek Chatterjee)

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