New Man At The Helm

India’s premier exchange is looking ahead even as newcomer Vikram Limaye wants to set things right.

- Clifford Alvares

IF ONE THING EMERGES crystal clear from the first two weeks of Vikram Limaye’s leadership at the NSE, it’s that the man is in a hurry to set things right. In barely a few days of joining the National Stock Exchange, the CEO & MD of the bourse filed the consent application with Sebi for a case that dogged the NSE, which alleges that the exchange unfairly gave access to a few brokers and algorithm traders.

For Limaye and the NSE, the consent application is a major move forward, which will pave the way eventually for a long-pending initial public offering, which has been stuck due to regulatory scrutiny. Consent applications are like negotiated settlements where a penalty is imposed on such entities. Says Limaye on the application: “It is an application to settle the matter without admission of guilt or wrong doing. The amount and terms would be mutually agreed based on discussions with Sebi.”