SAT upholds Sebi order against 63 Moons Technologies in STP case SAT upholds Sebi order against 63 Moons Technologies in STP case The Securities Appellate Tribunal (SAT) has dismissed an appeal filed by 63 Moons Technologies challenging a Sebi order that disallowed it from providing Straight Through Processing gate services. Sebi had in December 2020 rejected 63 Moons' application seeking renewal of approval to provide Straight Through Processing (STP) services on the basis of ''fit and proper'' criteria. The regulator, in its order, had said 63 Moons has been offering STP services without its approval and allowed the company to provide such services for three more months to clients in order to avoid any possible disruptions for securities market participants.