The way is cleared for Ashish Kumar Chauhan to become the new MD of NSE, shareholders have approved the appointment

Shareholders of the country’s premier stock exchange National Stock Exchange (NSE) have approved the appointment of Ashish Kumar Chauhan as Managing Director (MD) and Chief Executive Officer (CEO). NSE gave this information on Sunday.

Ashish Kumar Chauhan

major stock exchanges of the country National Stock Exchange (NSE) shareholders have approved the appointment of Ashish Kumar Chauhan as Managing Director (MD) and Chief Executive Officer (CEO). NSE gave this information on Sunday. According to a statement, the Extraordinary General Meeting of the NSE was held on August 11. In this, the shareholders approved the appointment of Chauhan with 99.99 percent votes. Chouhan was earlier the Managing Director and CEO of BSE.

Chouhan took over as the head of NSE on July 26. The Securities and Exchange of India (SEBI) had approved Chauhan’s appointment on July 18 itself. He replaces Vikram Limaye, whose five-year tenure at NSE ended on July 16.

Who is Ashish Kumar Chauhan?

Chauhan has studied from IIT and IIM. And for his work in the field during the years 1993 to 2000, he is called the father of Modern Financial Derivatives in India. He also created the Nifty Index and he is also in charge of creating the first screen based trading. He started his career as a banker with IDBI.

In BSE from the year 2009, Chauhan also helped it to become the world’s fastest exchange with 6 microsecond response time. With this, he played a big role in the revival in its revenue. He introduced mobile stock trading in India. Chouhan diversified BSE into new sectors, including currency, commodity and equity derivatives, MMEs, startups, mutual funds and insurance distribution, spot markets and power trading.

Apart from this, Chauhan also has experience in successfully handling BSE IPOs. This is what NSE wanted while searching for its next chief. NSE has been planning to bring its IPO for a long time.

Chouhan will replace Vikram Limaye, whose five-year term ends on Saturday. Limaye has not applied for a second term in the National Stock Exchange (NSE) despite being eligible.

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Chauhan is one of the founders of NSE. The challenge before him is to lead the exchange at a time when it is under regulatory scrutiny over co-location scams coupled with lax governance.