India, March 20 -- Markets regulator Sebi imposed a total fine of Rs 43.5 lakh on five entities involved in reversal of trades in the illiquid stock options segment on the BSE.
Sebi conducted an investigation between April 2014 and September 2015 and found that 81.38 per cent of all the trades executed in stock options of the exchange were non-genuine and led to the creation of artificial volume.
The five entities are among those that executed reversal of trades by reversing their buy or sell positions in a contract with the same counter party during the same day, Sebi noted.
"The trading behaviour of the noticee confirms that such trades were not normal and wide variation in prices of the trades in the same contract in a short time with...