What happened in NSE colocation scam ? How did they cheat?
In very short, in colocation scam, some brokers who paid bribe to some senior officials of NSE got data(buy-sell price, volume etc used in trading) before other brokers could and thus made a ton of profit.
You can get a lot of articles online if you search,
Explained: What is the NSE co-location scam, how Ravi Narain and Chitra Ramkrishna are involved in it (firstpost.com)
Some people had information a micro second earlier, is that a scam really. Its happening now also right?
Was there any price rigging or manipulation ?
As a retail investor/trader, how has the NSE colo issue affected me? - Industry Insights - Trading Q&A by Zerodha - All your queries on trading and markets answered (tradingqna.com)
In this thread Nitin sir himself has shed some light on it…
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Some members were allowed faster access to data as opposed to other members in the collocation facility. This is the crux of the scam.