In 2010, in an exercise dubbed Co-Location (COLO), the NSE allowed a few brokers to trade from inside its premises. The traders set up machines in the exchange’s data center, which housed the technological engines that matched the millions of buy and sell deals every day.
For centuries, stock market scandals across the globe, and in India, followed a typical pattern. There are a few greedy, ambitious and unscrupulous traders, financiers, and companies, aided by policy-makers, who were lethargic and lackadaisical, or enthusiastically supported manipulations.
In this ever-changing milieu, cricket emerged as the mafia’s manna. Betting, gambling, and fixing in the game became an illegal industry that was larger than the size of the combined earlier businesses.