Winning Bizness Desk
Mumbai- Ashish Kumar Chauhan will be the next Managing Director and CEO of National Stock Exchange (NSE). His appointment has been approved by the stock market regulator SEBI. At present, Chauhan is the MD and CEO of BSE. The report said that he has been appointed for a period of five years.Chouhan will replace Vikram Limaye, whose five-year term ends on Saturday. Limaye has not applied for a second term on the National Stock Exchange (NSE) despite being eligible.
One of the founders of NSE
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 the co-location scam coupled with lax governance. The co-location case has led to the arrest of former NSE MD and CEO Chitra Ramakrishna. Chauhan has studied at IITs and IIMs and for his work in the field from 1993 to 2000 is called the father of modern financial derivatives in India. He also designed the Nifty Index and is in charge of creating the first screen based trading platform. He started his career as a banker with IDBI.
Made BSE world's fastest exchange
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 fund and insurance distribution, spot markets and power trading.