NSE Data and Analytics Ltd has issued notices to several fantasy stock trading apps to stop using its data for virtual gaming platforms based on real-time share movement.

According to a copy of the notice obtained by YourStory, NSE Data, a division of the National Stock Exchange of India Ltd, has also requested damages for infringing on the NSE’s intellectual property rights, as well as compensation for lost revenue and reputational harm. (According to the NSE’s notice, damages total “INR 10,00,000/- (Rupees Ten Crores only).” NSE did not respond immediately to YourStory’s email requesting clarification on the exact amount.) The development has effectively put an emerging sector that has been operating in the shadows for a long time—despite the fact that authorities have called it out in the past—on the line, with at least some fantasy stock gaming platforms considering shutting down their operations entirely.

NSE Data and Analytics Ltd has issued notices to several fantasy stock trading apps to stop using its data for virtual gaming platforms based on real-time share movement.

According to a copy of the notice obtained by YourStory, NSE Data, a division of the National Stock Exchange of India Ltd, has also requested damages for infringing on the NSE’s intellectual property rights, as well as compensation for lost revenue and reputational harm. (According to the NSE’s notice, damages total “INR 10,00,000/- (Rupees Ten Crores only).” NSE did not respond immediately to YourStory’s email requesting clarification on the exact amount.) The development has effectively put an emerging sector that has been operating in the shadows for a long time—despite the fact that authorities have called it out in the past—on the line, with at least some fantasy stock gaming platforms considering shutting down their operations entirely.