The BSE may have fallen behind in the derivatives race, but under Chauhan, the exchange is looking beyond equities to channelise savings and investments in the country
To top it, the exchange sported archaic software systems, sorely requiring a revamp. All the while, rival exchanges were capturing market share. BSE was slow to make new members. In the process, the exchange lost precious market share in equities and transactions. BSE is still trying to recover lost ground in the cash and derivatives market of the business.
Chauhan quickly got into the repair and re-constitute groove. He slashed membership deposit rates from Rs 1 crore to Rs 10 lakh, allowing more admittance from outside the business centre that is Mumbai. He increased the number of members from 650-odd to 1,400+ now. Over the years, Chauhan introduce new segments and platforms such as SME, MFs, and bond distribution.
Building The Exchange
It was an uphill climb for Chauhan as technology revamp was a priority, and he quickly bought it up to speed. The BSE secured a partner in Deutsche Borse, adopted its open source technology systems and rehauled the technology systems of the exchange. “We also changed our clearing settlement, network management, broker software, and every other software without users realising it,” says Chauhan. “The trick was to do it in a way that people didn’t even realise that the technology had been altered,” he adds.
هذه القصة مأخوذة من طبعة February 17, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
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هذه القصة مأخوذة من طبعة February 17, 2018 من Businessworld.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
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