At first investor meet, NSE seeks to win back trust
The National Stock Exchange held its first conference call with investors on Monday, aiming to win back the trust of potential investors after the country’s largest exchange was rocked by corporate governance issues and scams in the past few years.
NSE’s first investor interaction in its nearly three-decade journey comes soon after the former BSE boss Ashish Chauhan took over as managing director of the privately held exchange in August.
NSE’s management, comprising half a dozen senior leaders, was quizzed by investors and analysts on issues relating to the co-location scam to a timeline of when the country’s largest exchange will go public—and eventually offer an exit to some of its early investors.
“This is the first-ever quarterly call which we will continue going forward. We will continue to improve and require your feedback. And I can assure you each feedback will be taken seriously, as we want to have a better relationship with all stakeholders going forward,” Chauhan told investors, according to an audio recording of the call reviewed by Mint.
“With regards to the co-location case, there are cases in various courts. So, I won’t like to comment on that. On the question of corporate governance, it is a matter of the past. Broadly, most of that happened before 2017. And after that, there has not been any such issue. But there is an overhang of that, and we all are acutely aware of that,” Chauhan said.
The co-location case relates to allegations that NSE officials provided certain high-frequency traders unfair access through co-location servers placed at the site of exchange, speeding up trading.
