The Securities and Exchange Board of India (SEBI) has so far not observed any manipulation in the new closing auction session (CAS), Chairman Tuhin Kanta Pandey said on Wednesday. Speaking at the sidelines of MCX Global Commodity Conclave, Pandey said, “We are constantly looking at our data. The closing auction replaced the earlier volume-weighted average price (VWAP) mechanism for determining closing prices. The key issue at present was participation and the effectiveness of displaying indicative prices, rather than a structural problem with CAS. Pandey said several large brokers have started displaying indicative prices on their websites, with more expected to make them available on their apps by Friday.