Finshots Daily The CERC-IEX insider trading saga explained
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Oct 21, 2025 A scandal unfolds as insider trading linked to CERC, India's power regulator, shakes the IEX market. The host unpacks how a market coupling order threatened IEX's price dominance, leading to a dramatic stock plunge. SEBI's investigation reveals suspicious trades and leaked information, implicating insiders who profited from the chaos. With evidence of unusual trading patterns and connections to powerful entities, trust in the market wanes. The need for stronger compliance in public institutions becomes clear as innocent investors face losses.
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Market Coupling Threatened IEX Dominance
- CERC's market coupling order removed IEX's exclusive role in price discovery by centrally matching bids across exchanges.
- This change threatened IEX's DAM revenue and triggered a near 30% stock plunge within days.
Leaked Documents From Inside CERC
- SEBI's 45-page interim order traced unusual trades and phone numbers back to CERC's economics division.
- The leaks originated from Yogita Mishra and flowed to Bhuvan Singh and several family clusters who shared the UPSI.
WhatsApp Group And Personal Ties Fueled Leak
- Two family clusters (Soran and Kumar) and an astrologer formed the insider network exchanging UPSI via a WhatsApp group called OTC.
- Members used close personal ties and even attended CERC offices to access confidential meetings and posts.