![SEBI clears appointment of Ashish Kumar Chauhan as NSE Chief SEBI clears appointment of Ashish Kumar Chauhan as NSE Chief](https://varindia.com/storage/news/uploads/2018/02/62d53686c805a.jpg)
The Securities and Exchange Board of India (SEBI) has cleared Ashish Kumar Chauhan’s candidature for the post of Managing Director and Chief Executive Officer of the National Stock Exchange (NSE). He is currently the MD & CEO of the BSE.
The NSE will now have to obtain shareholders’ approval before Chauhan can take charge. Chauhan worked extensively in developing the derivatives segment at the NSE, which currently is the exchange’s main volume driver.
The exchange has set up a four-member internal panel including Chief Financial Officer of the NSE Yatrik Vin, Chief Regulatory Officer Priya Subbaraman, Chief Technology & Operations Officer Shiv Kumar Bhasin, and Chief Enterprise Risk Officer K S Somsundaram, to oversee the responsibilities of MD & CEO until the new person takes charge.
Chauhan started his career at IDBI Bank, before moving to the NSE. Between 1993 and 2000, Chauhan worked extensively in developing the derivatives segment at the NSE, which currently is the exchange’s main volume driver. Chauhan had also worked as CEO of Mukesh Ambani-led IPL cricket team Mumbai Indians in its formative years and also worked as president and CIO of Reliance group between 2000 and 2009.
Chauhan is joining the NSE when the exchange is accused of allegations of illegal phone tapping during the reign of former top bosses Chitra Ramkrishna and Ravi Narain. Also, the exchange is under various regulatory probes in connection with the colocation scandal and misuse of its trading architecture by brokers.
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