BSE’s Ashish Kumar Chauhan may become the next MD and CEO of NSE

Ashish Kumar Chauhan is likely to take over as managing director and CEO of leading exchange NSE, with capital markets regulator SEBI clearing his appointment, sources said on Sunday. He said Chauhan, who is currently the MD and CEO of BSE, would be appointed for a period of five years.

He will take over from Vikram Limaye, whose five-year tenure ended on Saturday. Limaye did not seek another term at the National Stock Exchange (NSE) despite being eligible. Chauhan, who is one of the founders of NSE, is facing an uphill battle of guiding the exchange at a time when it faces regulatory scrutiny related to governance lapses as well as scams related to its co-location facility. is facing.

Its former MD and CEO Chitra Ramakrishna was ousted and later arrested as a result of the co-location case. A technocrat from IITs and IIMs, Chauhan is regarded as the father of modern financial derivatives in India due to his work in this area during 1993-2000.

He is also the creator of Nifty Index and was in charge of creating the first screen-based trading. He started his career as a banker with IDBI. In BSE since 2009, Chauhan with 6 microsecond response time helped it become the fastest exchange in the world, revived its revenue, introduced mobile stock trading in India, Currency, Commodities and Equity Derivatives, SMEs, Start- Diversified into new areas including ups, mutuals. Fund and insurance distribution, spot market and electricity trading.

In addition, Chauhan has experience in successfully handling BSE IPOs. This was a feature NSE was looking for in its next major. NSE has been planning to come out with its initial share sale for a long time. However, its plans to go public were derailed when the exchange became embroiled in a co-location controversy, where some brokers were allegedly granted improper access to the exchange’s data feeds on other members.

On March 4, NSE invited applications from candidates for the role of MD and CEO. Applications were invited from candidates having IPO (Initial Public Offering) experience.

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