Ashishkumar Chauhan is expected to be the next managing director and CEO of the National Stock Exchange (NSE). According to sources, the capital markets regulator Sebi approved his appointment as the MD and CEO of the NSE. BSE’s current MD and CEO is Ashishkumar Chauhan. According to sources, Ashishkumar Chauhan will be appointed for a five-year term.
Vikram Limaye, who was eligible for a second term, would hand over the reins of the NSE to Ashsishkumar Chauhan. His five-year tenure as NSE’s CEO and MD came to an end on Saturday.
Chauhan, one of the NSE’s founders, faces an uphill battle in guiding the exchange at a time when it is facing regulatory probes for governance lapses as well as a scam involving its co-location facility.
Chitra Ramkrishna, the company’s former MD and CEO, was fired and later arrested as a result of the co-location case.
Because of his work in the field from 1993 to 2000, Ashishkumar Chauhan, an IIT and IIM technocrat, is regarded as the father of modern financial derivatives in India.
He also created the Nifty index and was responsible for the first screen-based trading. He began his banking career with IDBI.
Since 2009, Ashishkumar Chauhan has helped the BSE become the world’s fastest exchange with a response time of 6 microseconds, revived revenues, introduced mobile stock trading to India, and diversified into new areas such as currency, commodities, and equity derivatives, SMEs, start-ups, mutual fund and insurance distribution, spot markets, and power trading.
Apart from that, Ashishkumar Chauhan has previously handled the BSE IPO with success. This was one of the qualities NSE sought in its next CEO.
For a long time, the NSE has been planning its initial share sale. However, the bourse’s plan to go public was derailed when it became embroiled in the co-location controversy, in which certain brokers were allegedly given preferential access to the exchange’s data feeds over other members.
On March 4, the NSE issued an open call for candidates for the positions of MD and CEO. Candidates with IPO (initial public offering) experience were invited to apply.
