Daksh Gulhane

Regulating the Unseen: Dark Liquidity, Algorithmic Trading, and the Limits of SEBI's Disclosure Regime

Indian securities law does not recognise the dark pool as a category of trading venue: pre-trade transparency is mandated on every recognised exchange, and off-exchange crossing networks of the kind permitted under United States Regulation ATS or the European Union's MiFID II framework have no domestic equivalent. This...