Buzz Update NSE hires China-Linked Tech Consultant under the scanner TOU

Buzz Update NSE hires China-Linked Tech Consultant under the scanner

 TOU

NSE hires China-Linked Tech Consultant under the scanner

Did the National Stock Exchange (NSE) err on the side of appointing a technology consultant with close ties to China, headed by Ravi Narayan and Chitra Ramakrishna? Investigations into the NSE scam have revealed that David Tsoy, a Hong Kong (HK) resident, has promoted himself as an expert in low-delay stock exchange trading technology, market data disposal systems, risk management systems and mobile device applications. Sources for NSE, Colocation (COLO) trading systems, on a number of major technology projects, including the spread of data packets via multicast and TCP IP. Business line.

Although Tsoi has not been involved in any illegal activities in India so far, data theft has been a key concern in the NSE since the Colocation (COLO) trading scam came to light. It was also found that some brokers who had unfair access to NSE trading systems had their presence in international jurisdictions, including HK.

Ramakrishna and Narayan visited Tsoi NSE almost every month for many years when he led the exchange. Sources say that since NSE needed his advice on a number of sensitive technology-related issues, Tsoi had insight and a blueprint for working with NSE’s core technology. When the NSE suffered a major crash in 2012 and the market regulator blamed deficiencies in the trading systems of the SEBI Exchange, Tsoi was approached to suggest changes in the index-based market-wide circuit breakers.

Around the world, big business and governments are skeptical of China’s role in stealing data, intellectual property, business and government information. In the US and Canada, many Chinese nationals and organizations have been accused of stealing data and spying for communist rule. In fact, India has banned hundreds of Chinese mobile apps and kept almost all China-linked investments under the scanner.

Tsoy, Mystery Man

Attempts by Businessline Useless to reach Tsoi. Not much information about Tsoi is available on the internet, which makes the mystery even deeper since NSE considers him a global expert in exchange trading systems. A search revealed that Tsoi’s LinkedIn profile has been deleted. The two large consulting firms he headed do not have a website. Such company Techlinks Systems was also terminated.

A brief bio note about Tsoi on HK Stock Market News and Regulations WebSite states that he is Vice President of Technology Solutions at the NWCB (New World Cyber ​​Boss Limited). However, another website shows that the NWCB, founded in 1999, was dissolved in January 2013. A web search has revealed that the NWCB may have more of its business in China. Furthermore, BioNote states that Tsoy has 25 years of experience in the IT industry, but does not name companies or organizations in which he has worked for more than two decades.

Tsoi specializes in technical consultancy, project management, software development and system startup implementation, and his clients’ portfolio includes companies such as the People’s Bank of China, the Shanghai Stock Exchange, Shanghai Airline, and most of the Hong Kong International Terminals. , And Inda’s NSE and National Securities Depository Limited.

NSE did not respond to queries sent Businessline.

Published

April 17, 2022

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