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Time of India
6 days ago
- Business
- Time of India
Breaking News Live Updates: India-UK FTA should become a template for other similar deals: NSE CEO Ashish Kumar Chauhan
25 Jul 2025 | 06:25:23 AM IST Breaking News Live Updates: Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), has said that the India-UK trade deal should become a template for India's other trade deals with like-minded countries. He termed the deal a harbinger of things to come under new geopolitical realities, where multilateralism is gradually moving away. Breaking News Live Updates: Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), has said that the India-UK trade deal should become a template for India's other trade deals with like-minded countries. He termed the deal a harbinger of things to come under new geopolitical realities, where multilateralism is gradually moving away."This is the first deal post Brexit, what I call the gradual moving away from multilateralism; that, in a way, (US President) Donald Trump kickstarted. So, India-UK Free Trade Agreement should become a template for India's deals with other important like-minded countries like the US, the EU or Japan," Chauhan told India-UK Free Trade Agreement was signed and formalised on Thursday during Prime Minister Narendra Modi's visit to the UK."We already have an FTA with Australia. But this is coming post the new Labour Government took over and this deal actually was negotiated initially with the Conservative Government and then last year, when the Labour Government came into play, many people thought this may not be working out. But post-Donald Trump inauguration in January, I think things have changed very suddenly. The changes have accelerated," the MD & CEO of NSE said. Show more Prime Minister Narendra Modi on Thursday expressed condolences on the loss of lives in a plane crash in Russia. PM Modi said that India stood in solidarity with the a post on X, he said, "Deeply saddened at the loss of lives in the tragic plane crash in Russia. Extend our deepest condolences to the families of the victims. We stand in solidarity with Russia and its people." Prime Minister Narendra Modi on Thursday expressed sadness over the loss of lives due to an accident in Himachal Pradesh's Mandi. He also announced an ex gratia of Rs. 2 lakh to the next of kin of each deceased and Rs. 50,000 for the injured."Saddened by the loss of lives due to an accident in Mandi, Himachal Pradesh. Condolences to those who have lost their loved ones in the mishap. May the injured recover soon," PM Modi said in a post on X."An ex-gratia of Rs. 2 lakh from PMNRF would be given to the next of kin of each deceased. The injured would be given Rs. 50,000: PM," the post least seven people died and around 20 others were injured after a Himachal Road Transport Corporation (HRTC) bus fell into a gorge near the Maseran area of Sarkaghat sub-division in Himachal Pradesh's Mandi district on Thursday morning. Australia and Britain's defence and foreign ministers arrived for talks in Sydney on Friday on boosting cooperation, including deepening the two countries commitment to the AUKUS nuclear submarine Foreign Minister David Lammy and Defence Secretary John Healey were met by Prime Minister Anthony Albanese in Sydney, where talks are expected to focus on boosting trade ties and progressing the AUKUS partnership for Britain and Australia to build a new class of nuclear-powered United States is reviewing the trilateral agreement struck in 2021, and has pressed Australia to increase defence spending to counter China's military build-up in the Indo Pacific region. A magnitude 6.6 earthquake struck Friday off the southwestern coast of Pacific nation Samoa, the United States Geological Survey said. The quake struck at a depth of 314 kilometres (195 miles) at 12:37 pm (2337 GMT Thursday), more than 400 kilometres from Samoa's southwest coast, the USGS US tsunami warning agency said there was "no tsunami threat". - Director General, FICCI, Jyoti Vij, on India-UK FTA Prime Minister Narendra Modi on Thursday concluded his two-day visit to the UK during which the two countries inked a landmark free trade was hosted by his UK counterpart, Keir Starmer, at Chequers – the official country residence of the British Prime Minister – for an intense session of talks that also covered regional and global issues of mutual interest.'Concluding a very important UK visit. The outcomes of this visit will benefit our future generations and contribute to shared growth and prosperity. Gratitude to the PM Keir Starmer, the UK government and people for their warmth,' Modi said in social media leaves for the Maldives for the second leg of his two-nation tour, soon after an audience with King Charles III at his Sandringham Estate in Norfolk, eastern England. He presented the British monarch with a Sonoma dove tree, or handkerchief tree to be planted at the royal estate in the Autumn as part of his environmental initiative 'Ek Ped Maa Ke Naam'. Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), has said that the India-UK trade deal should become a template for India's other trade deals with like-minded countries. He termed the deal a harbinger of things to come under new geopolitical realities, where multilateralism is gradually moving away."This is the first deal post Brexit, what I call the gradual moving away from multilateralism; that, in a way, (US President) Donald Trump kickstarted. So, India-UK Free Trade Agreement should become a template for India's deals with other important like-minded countries like the US, the EU or Japan," Chauhan told India-UK Free Trade Agreement was signed and formalised on Thursday during Prime Minister Narendra Modi's visit to the UK."We already have an FTA with Australia. But this is coming post the new Labour Government took over and this deal actually was negotiated initially with the Conservative Government and then last year, when the Labour Government came into play, many people thought this may not be working out. But post-Donald Trump inauguration in January, I think things have changed very suddenly. The changes have accelerated," the MD & CEO of NSE said.
India Gazette
16-06-2025
- Business
- India Gazette
India's NSE and Cyprus Stock Exchange sign MoU to boost cross-border investments
Nicosia [Cyprus], June 16 (ANI): In a significant step towards strengthening economic ties between India and Cyprus, the NSE International Exchange at GIFT City, Gandhinagar, and the Cyprus Stock Exchange signed a Memorandum of Understanding (MoU) to enable dual listings and promote collaboration in financial research and outreach programmes. Ashish Kumar Chauhan, MD & CEO of the National Stock Exchange (NSE), told ANI that the MoU will help create new opportunities for cross-border investments and connect European companies with India through GIFT City. 'NSE International Exchange at GIFT City, Gandhinagar, which is India's face to the world, and Cyprus Stock Exchange, to do dual listing as well as research and outreach programmes on various financial instruments to create collaboration between European companies and GIFT City, Gandhinagar. This is going to open a new chapter in Cyprus-India relations going forward,' he stated. The initiative aims to benefit investors in both Cyprus and India and encourage cross-border capital flows between the two regions. The agreement was signed during Prime Minister Narendra Modi's visit to Cyprus, where he held a roundtable interaction with Cypriot President H.E. Nikos Christodoulides and business leaders from both countries. The meeting in Limassol brought together top names from various sectors such as banking, finance, defence, shipping, logistics, digital technology, artificial intelligence, tourism, and mobility. During the visit, several other business outcomes were also announced. BAO Capital Partners Ltd, a Cyprus-based Alternative Investment Fund Manager, revealed that it has secured commitments exceeding USD 100 million for its flagship fund focused on India. The fund will invest in public equities and emerging technologies aligned with the 'Make in India' initiative, especially in AgroTech, clean logistics, and drone applications, key sectors for improving rural productivity and sustainable growth. Additionally, the National Payments Corporation of India (NPCI), through its international arm NIPL, signed an MoU with Eurobank of Cyprus. The agreement will help introduce India's Unified Payments Interface (UPI) services in Cyprus, enabling seamless cross-border transactions. This move is expected to benefit both tourists and businesses in the two countries. These developments reflect the deepening of India-Cyprus economic relations and a shared commitment to expand partnerships in finance, innovation, and sustainable growth. (ANI)
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Business Standard
16-06-2025
- Business
- Business Standard
NSE IPO: 6 reasons why it's time for National Stock Exchange to go public
NSE IPO: The National Stock Exchange (NSE) stands as the cornerstone of India's capital markets, catalysing economic growth and financial innovation. Yet, despite its pivotal role and a substantial shareholder base that surpasses most large-cap companies, NSE remains an unlisted entity. The time has come for the NSE to embrace public markets, and the reasons are compelling—both from a governance and a market development perspective. 1. Broad-based ownership: The case for democratisation With over 100,000 shareholders, NSE already boasts a more widely held ownership base than many constituents of the Nifty 500. This broad base reflects deep investor interest and sets the stage for an even broader and more democratic participation, should NSE list. In a country where equity participation is growing rapidly, it is only fair that every Indian investor gets the opportunity to own a share of this national institution through transparent public markets. 2. Corporate governance NSE has consistently set benchmarks for governance that are on par, if not ahead, of most listed companies in India. Its investor presentations are a model of clarity and disclosure, surpassing the standards seen in several Nifty and Sensex companies. Transparency in communication, accountability to stakeholders, and robust risk management practices position NSE as a natural fit for the listed space. 3. Leadership compensation: The misplaced debate Concerns around executive remuneration at NSE are significantly overblown. The CEO, Mr. Ashish Kumar Chauhan, was remunerated around ₹12 crore in the last fiscal, a figure that is modest by any benchmark, domestic or overseas, especially given the scale and importance of the institution. Moreover, a substantial portion is deferred variable pay. Comparatively, leaders at other large financial institutions—receive far higher compensation, often supplemented with generous ESOPs, which NSE does not offer. 4. The need for quality equity paper: A national asset for the masses NSE is a national asset. Today, an enormous amount of investor capital is being funnelled into sub-par businesses at lofty valuations, in part due to the shortage of high-quality, blue-chip equity opportunities. Listing NSE would provide Indian investors with a chance to participate in the growth of a fundamentally sound, cash-generating institution—channelling savings into assets that genuinely deserve capital and boosting overall market health. 5. Bringing price discovery into the sunlight Despite not being listed, price discovery for NSE shares occurs in a shadowy parallel market. This environment is rife with inefficiencies, poor liquidity, delivery defaults, and price renegotiations—all of which harm investor confidence and undermine orderly market functioning. Listing NSE would eliminate these risks, bringing transparency, better regulation, and true price discovery to one of the country's most important assets. For the largest and most systemically important unlisted company to be denied a formal platform for price discovery is, frankly, an irony that needs to be addressed. 6. Regulatory concerns are not a showstopper Some argue that issues around clearing corporations or conflict management are reasons for delay. Yet, two other exchanges in the country are listed, and similar questions have been managed in their cases—albeit imperfectly. Regulatory evolution is ongoing, and any remaining hurdles can and should be addressed pragmatically as part of the listing process, not as a reason for indefinite delay. All said, the listing of the National Stock Exchange is not just a matter of institutional pride—it is an imperative for the continued evolution, transparency, and democratisation of India's capital markets. The market regulator, who keeps investor interest above everything else, has played an enabling role to facilitate fair price discovery and broad-based ownership of national assets. The NSE, by every objective metric, is ready for the next leap. It is time to bring this national asset into the sunlight, for the benefit of all Indian investors.
Time of India
03-06-2025
- Business
- Time of India
NSE vs BSE: Turf war over derivatives market heats up
A rivalry between India's major stock exchanges has entered a high-stakes phase, as they wrestle for control over the derivatives market in potential implications for everything from trading volumes to liquidity flows. The National Stock Exchange of India Ltd. is trying to change the expiration for listed derivative contracts from Thursday to Tuesday — a day traditionally dominated by its smaller bourse BSE Ltd . A shift could help the NSE regain market share from its rival, which has benefited after curbs by the capital markets regulator hit trading of NSE's most-popular options, pushing traders to look for alternatives at the BSE. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Santo André: Quanto vale a sua casa? Descubra agora! Valor da casa | Anúncios de pesquisa Saiba Mais Undo The expiry-day wrangling is more than just a turf war. It can potentially reshape India's options trading by fragmenting liquidity, influencing fee income and forcing brokers to realign their trade execution strategies. For the NSE, retaining its competitive edge becomes crucial ahead of a long-anticipated listing. Bloomberg 'It will only get more competitive from here,' said Maurya Ghelani, derivatives strategist at Kai Securities in Mumbai. 'A lot depends on how the BSE responds, and it may have to contend with ceding some ground back to the NSE.' Derivatives trading accounts for a significant chunk of revenue for both exchanges, with India attracting global quantitative trading firms like Citadel and Jane Street. The NSE has seen a steady decline in its market share in the past year as the securities regulator culled highly traded weekly contracts such as the ones on the NSE Nifty Bank Index, prompting a shift toward options on the S&P BSE Sensex Index. Live Events Since the Securities and Exchange Board of India began its latest curbs to halt the derivatives frenzy, the NSE has struggled to stick to an expiration day. In November, it said it would move it to Thursday for several index derivatives, following BSE's streamlining of its expiries to Tuesday. Then in March, the NSE unexpectedly said it would change its expiration day to Monday, putting it ahead of the BSE's. The move was quickly abandoned as the regulator pushed the exchanges to stick to either Tuesday or Thursday. The news of a new push for a change to Tuesday came last week. The BSE hasn't said whether it will stick to Tuesday or consider moving its expiration to Thursday. The Sebi, which says it aims to protect investor interests and maintain market stability, has yet to announce its decision on the NSE's request to move its expiry day. For his part, NSE Chief Executive Officer Ashish Kumar Chauhan told analysts in its latest earnings call that the market share loss has 'run its course.' Ghelani of Kai Securities said aligning expiry days could lead to new product launches by exchanges and deeper integration among existing ones. Meanwhile, the National Commodity and Derivatives Exchange Ltd. is also planning to enter the fray. While intensified competition may lead to short-term volatility and fragmentation, some say the derivatives market may benefit in the long run. 'More options will bring more opportunities for the trader community,' said Sahaj Agrawal, head of derivatives research at Kotak Securities. 'This could spur innovation and better services for traders.'
Economic Times
03-06-2025
- Business
- Economic Times
NSE vs BSE: Turf war over derivatives market heats up
A rivalry between India's major stock exchanges has entered a high-stakes phase, as they wrestle for control over the derivatives market in potential implications for everything from trading volumes to liquidity flows. ADVERTISEMENT The National Stock Exchange of India Ltd. is trying to change the expiration for listed derivative contracts from Thursday to Tuesday — a day traditionally dominated by its smaller bourse BSE Ltd. A shift could help the NSE regain market share from its rival, which has benefited after curbs by the capital markets regulator hit trading of NSE's most-popular options, pushing traders to look for alternatives at the BSE. The expiry-day wrangling is more than just a turf war. It can potentially reshape India's options trading by fragmenting liquidity, influencing fee income and forcing brokers to realign their trade execution strategies. For the NSE, retaining its competitive edge becomes crucial ahead of a long-anticipated listing. 'It will only get more competitive from here,' said Maurya Ghelani, derivatives strategist at Kai Securities in Mumbai. 'A lot depends on how the BSE responds, and it may have to contend with ceding some ground back to the NSE.'Derivatives trading accounts for a significant chunk of revenue for both exchanges, with India attracting global quantitative trading firms like Citadel and Jane Street. The NSE has seen a steady decline in its market share in the past year as the securities regulator culled highly traded weekly contracts such as the ones on the NSE Nifty Bank Index, prompting a shift toward options on the S&P BSE Sensex the Securities and Exchange Board of India began its latest curbs to halt the derivatives frenzy, the NSE has struggled to stick to an expiration day. In November, it said it would move it to Thursday for several index derivatives, following BSE's streamlining of its expiries to Tuesday. ADVERTISEMENT Then in March, the NSE unexpectedly said it would change its expiration day to Monday, putting it ahead of the BSE's. The move was quickly abandoned as the regulator pushed the exchanges to stick to either Tuesday or Thursday. The news of a new push for a change to Tuesday came last week. The BSE hasn't said whether it will stick to Tuesday or consider moving its expiration to Thursday. The Sebi, which says it aims to protect investor interests and maintain market stability, has yet to announce its decision on the NSE's request to move its expiry day. For his part, NSE Chief Executive Officer Ashish Kumar Chauhan told analysts in its latest earnings call that the market share loss has 'run its course.' ADVERTISEMENT Ghelani of Kai Securities said aligning expiry days could lead to new product launches by exchanges and deeper integration among existing ones. Meanwhile, the National Commodity and Derivatives Exchange Ltd. is also planning to enter the fray. While intensified competition may lead to short-term volatility and fragmentation, some say the derivatives market may benefit in the long run. ADVERTISEMENT 'More options will bring more opportunities for the trader community,' said Sahaj Agrawal, head of derivatives research at Kotak Securities. 'This could spur innovation and better services for traders.' (You can now subscribe to our ETMarkets WhatsApp channel)
