Let bourses compete

The Bombay High Court has done well to give the Securities and Exchange Board of India (Sebi) an opportunity to reconsider, on its own, its earlier decision to bar MCX-SX from trading in equities, provided the latter's investors resolve concerns about acting in concert. Sebi would do well to settle the dispute on its own and avoid a situation where its ruling could be overturned by the court, which left no room for doubt on the central issue of public interest in the dispute, stressing the need for competition in the exchange space. There is a pragmatic way out. 

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