SEBI’s CAS will help detect market manipulators, vows “strict action”
The Securities and Exchange Board of India (SEBI) introduced the Closing Auction Session (CAS) mechanism to enhance its ability to detect market manipulation. This new system improves upon the previous Volume Weighted Average Price (VWAP) method. SEBI Chairman Tuhin Kanta Pandey emphasized that strict action will be taken against violators starting from its implementation.