
The National Stock Exchange has set up facilities
which serve as a model for the securities industry in terms of trading systems,
practices and procedures. Though the impetus for its establishment came from
policy makers in the country, it has been set up as a public limited company,
owned by the leading institutional investors in the country.
NSE is
different from most Stock Exchanges in India where membership on an exchange
also meant ownership of the exchange. The ownership and management of the
Exchange is completely separated from the right to a trading members, to trade
on the NSE. The Exchange is managed by a Board of Directors. Decisions relating
to market operations are delegated by the Board to an Executive Committee which
includes representatives from the Trading Members, the public and the
management. Besides, the Exchange operates various committees to advise it on
areas such as good market practices, settlement procedures, risk containment
systems etc. These committees are manned by industry professionals, Trading
Members and Exchange staff. The day to day management of the Exchange is
delegated to the Managing Director who is supported by a team of professional
staff.
Other Information:
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