<p>The National Stock Exchange (NSE) is suing the country's market regulator to get access to Rs 5,991 crore of its revenue deposited into a separate account for over four years, the <em>Economic Times</em> reported on Friday, citing people with knowledge of the matter.</p>.<p>In September 2016, the Securities and Exchange Board of India (SEBI) had asked the NSE to deposit revenue generated from offering co-location services into a separate account and had barred it from using those funds, the report said.</p>.<p>Brokerages can rent data racks in the exchange itself from co-location frameworks, allowing them quicker access to exchange servers.</p>.<p>In April 2019, SEBI said it did not have enough evidence that the NSE committed a fraudulent and unfair trade practice but it had established the exchange did not exercise due diligence when putting in place the co-location servers.</p>.<p>The stock exchange has moved the Securities Appellate Tribunal to get permission to withdraw money from the account, according to the report.</p>.<p>The NSE also wants the tribunal to pass an order discontinuing the need for the bourse to put its co-location revenues into a different account, the report added. The tribunal is set to hear the matter on May 17.</p>.<p>SEBI and NSE did not immediately respond to <em>Reuters</em>' requests for comments.</p>
<p>The National Stock Exchange (NSE) is suing the country's market regulator to get access to Rs 5,991 crore of its revenue deposited into a separate account for over four years, the <em>Economic Times</em> reported on Friday, citing people with knowledge of the matter.</p>.<p>In September 2016, the Securities and Exchange Board of India (SEBI) had asked the NSE to deposit revenue generated from offering co-location services into a separate account and had barred it from using those funds, the report said.</p>.<p>Brokerages can rent data racks in the exchange itself from co-location frameworks, allowing them quicker access to exchange servers.</p>.<p>In April 2019, SEBI said it did not have enough evidence that the NSE committed a fraudulent and unfair trade practice but it had established the exchange did not exercise due diligence when putting in place the co-location servers.</p>.<p>The stock exchange has moved the Securities Appellate Tribunal to get permission to withdraw money from the account, according to the report.</p>.<p>The NSE also wants the tribunal to pass an order discontinuing the need for the bourse to put its co-location revenues into a different account, the report added. The tribunal is set to hear the matter on May 17.</p>.<p>SEBI and NSE did not immediately respond to <em>Reuters</em>' requests for comments.</p>