Ashishkumar Chauhan
Born
Ashishkumar Chauhan

(1968-03-16) 16 March 1968
India
NationalityIndian
Alma materIIT Bombay
IIM Calcutta
OccupationMD & CEO of National Stock Exchange
PredecessorVikram Limaye
SpouseSonal Chauhan
Children1
AwardsBest CEO of the Year

Ashishkumar Chauhan is an Indian business executive and administrator who is currently the Managing Director (MD) and Chief Executive Officer (CEO) of the National Stock Exchange of India (NSE).[1][2] A technocrat from IIT Bombay[3] and IIM Calcutta,[3] Ashish was a founding member of NSE. Prior to joining NSE back in 2022,[3][4][5] he was the Managing Director and Chief Executive Officer of the Bombay Stock Exchange (BSE)[6][7] for 10 years.[8][9][10] He is also the Chancellor of University of Allahabad[11][12] and serves as a member of Governing Council of one of the premier B-Schools in India - IIM Calcutta.[13] Ashish is best known as the father of modern financial derivatives in India, and is considered one of the foremost experts in financial market policies, Information technology, organized retail, telecommunications, cricket and Indian social issues.[3] Ashish has been awarded Lifetime Achievement Award by Global Custodian [14]

Early life

A mechanical engineer from IIT Bombay and alumnus of IIM Calcutta, Chauhan was recruited from the campus as an officer by the Industrial Development Bank of India (now IDBI Bank) in 1991.[15][16]

Career

National Stock Exchange of India

His first break came in 1993, when the Government proposed a stock exchange in the National Stock Exchange (NSE). Chauhan was a member of the core team that founded the NSE, and responsible for setting up their equities and derivatives markets from 1993 to 2000.[17] His work at NSE, involved market operations, membership, clearing and settlement, surveillance, regulations, sales, marketing, IT, premises etc. Chauhan himself was involved in creating the trading infrastructure at NSE and was instrumental in creating NSE-50 (Nifty), the most traded index in derivatives in India, NSE's certification in Financial Markets (NCFM), IPO through screen and several other innovations in the Indian capital markets.[15] In addition, he was instrumental in setting up initial Information Technology infrastructure including the first commercial satellite telecom network in India for NSE.[18] He was also involved in conceptualization of National Securities Clearing Corporation (NSCCL) and initial set up of National Securities Depository Limited (NSDL). He looked at NSE's risk management system along with two others. The team created a metric to measure liquidity in stocks—called impact cost—which is now standard practice.[15] Due to his work in setting up modern exchange traded financial derivatives in Indian markets, he is known as the 'father of derivatives' in Indian finance. In July 2022, Chauhan was appointed as Managing Director and Chief Executive Officer of National Stock Exchange (NSE) [11][12]

Reliance Industries

In 2001, Chauhan left NSE to begin his entrepreneurship venture, financed by the Reliance group, and soon began working for Reliance Infocomm.[15][19] In 2004, Chauhan became the chief information officer (CIO) of Reliance Infocomm, and then the Reliance Group CIO in 2005.[15][19] He was also the CEO of the cricket team Mumbai Indians, owned by Reliance Industries, in its formative years.[19]

BSE

After leaving Reliance Industries, Chauhan joined BSE as Deputy CEO in 2009 and was appointed as CEO in 2012.[20] He is credited with reviving BSE including making it the fastest Exchange in the World with less than 6 microseconds response time,[21] introduction of Mobile Trading,[22] state of the art online real time surveillance system,[23] introduction of several market leading products. In addition, he has also been responsible for revamping of BSE, bringing in the entire spectrum of products including equity, currency, interest rate derivatives and commodities to BSE. Under his guidance, BSE has taken leadership position in setting up Small and Medium Enterprises (SME) Platform, Offer for Sale (OFS), Mutual Funds Distribution through Exchanges, e-IPO etc.[24] As of October 2018, BSE commands more than 70% markets share in these segments.

Under Ashish's leadership and vision, in 2012, BSE became the first Exchange in the country to launch a dedicated SME platform for listing of Small and Medium Enterprises (SMEs). As of October 2018, the BSE SME segment is the market leader of its kind in India with about 275 SME listed, 54 of which have grown and successfully migrated to the main Board of the Exchange.[25]

As a big believer of equity inclusion, in 2013 he pushed BSE to develop a Mutual Fund Distribution Platform - BSE StAR MF. This web-based transaction processing platform with fully automated online mutual fund collection & settlement system has become one of the most acceptable platforms in the mutual fund ecosystem.[26] As of October 2018, the BSE StAR-MF platform is India's largest digital platform to distribute Mutual Funds and commands a market share of close to 80% among exchange distributed funds. The robustness and seamlessness of BSE StAR MF along with Swiftness of Distributors query resolution through real time interaction has created an ideal ecosystem for all stakeholders in India Mutual Funds Industry.[27]

He was also instrumental in setting up India's First International Exchange "India International Exchange", which was inaugurated by the Hon'ble Prime Minister of India Shri Narendra Modi in January 2017 at Gandhinagar, Gift City.[28] India INX is the first exchange to introduce a single platform across multi-assets, equities, commodities, currencies and interest rate derivatives. It is also the first exchange to launch gold options

In January 2017, he successfully completed the IPO of BSE which was pending for over 10 years.[29] BSE IPO was oversubscribed 51 times, with the public offer received bids for 550.8 million shares against 10.8 million shares on offer.[30]

In October 2018, under the leadership of Ashish, BSE commenced trading in gold and silver contracts to mark its entry into the commodity derivatives segment and become India's first universal stock exchange and currently offers all assets classes, including equity, mutual funds, currency, and commodity in its portfolio.[31]

Awards and Honours

  • Lifetime Achievement award by Global Custodian in Singapore[14]
  • 'Visionary Awards 2021' - Financial Sector by Governance Now, India[32]
  • Chief Executive of the Year - FOW International Awards 2021, London
  • 'Mumbai Ratna Award' - Awarded by Hon'ble Governor of Maharashtra Shri Bhagat Singh Koshiyari - 2021[33]
  • Digital Icon of India Inc., 2019 - Indian Express Group
  • Distinguished Alumnus Award 2016 - IIM Calcutta[34]
  • CEO of the Year, Diamond Sabre Awards 2015, Hong Kong[35]
  • Indian Business Leader of the Year, Horasis Interlaken/Switzerland 2015[36]
  • RH Patil Award for Excellence in Financial Services, June 2015[37]
  • Distinguished Alumnus Award, Indian Institute of Technology, Bombay, 2014[38]
  • Best CEO in the Financial Markets in the Asia Pacific by the Asian Banker, 2014[39]
  • Zee Business Awards- Special contribution in Commodities and Capital Market, 2013[40]
  • TOP 50 CIOs, Information Week, US, 2009[41]

Directorships and Memberships

References

  1. ↑ "Ashish Chauhan's appointment as NSE MD & CEO approved by shareholders". CNBCTV18. 14 August 2022. Retrieved 13 December 2023.
  2. ↑ "NSE volume hits 45% of all trades in the world on several days, says CEO Ashish Chauhan". Moneycontrol. 30 October 2023. Retrieved 13 December 2023.
  3. 1 2 3 4 "Meet Ashish Chauhan — the new MD and CEO of National Stock Exchange". CNBCTV18. 18 July 2022. Retrieved 13 December 2023.
  4. ↑ Livemint (13 December 2023). "Parliament security breach: Government orders probe, inquiry panel formed". mint. Retrieved 13 December 2023.
  5. ↑ https://www.business-standard.com/podcast/current-affairs/what-challenges-await-ashish-chauhan-as-he-takes-over-at-nse-122072000060_1.html. {{cite web}}: Missing or empty |title= (help)
  6. ↑ "Ashish Chauhan appointed new BSE managing director". Daily News and Analysis. 2 November 2012. Retrieved 3 November 2012.
  7. ↑ Rajesh Mascarenhas (2 November 2012). "Ashishkumar Chauhan appointed as MD & CEO of BSE". The Economic Times. Mumbai. Retrieved 3 November 2012.
  8. ↑ https://www.business-standard.com/about/who-is-ashish-kumar-chauhan. {{cite web}}: Missing or empty |title= (help)
  9. ↑ https://www.business-standard.com/article/companies/bse-starts-search-for-new-md-ceo-as-ashish-chauhan-s-term-ends-122033000059_1.html. {{cite web}}: Missing or empty |title= (help)
  10. ↑ "Ashishkumar Chauhan appointed MD & CEO of BSE". The Hindu. Mumbai. 2 November 2012. Retrieved 3 November 2012.
  11. 1 2 3 "Sebi approves appointment of BSE's Ashishkumar Chauhan as next CEO of NSE: ET Now". The Economic Times. Retrieved 20 July 2022.
  12. 1 2 3 "Meet Ashish Chauhan — the new MD and CEO of National Stock Exchange". MSN. Retrieved 20 July 2022.
  13. 1 2 "Board of Governors | IIM Calcutta". www.iimcal.ac.in. Retrieved 18 December 2023.
  14. 1 2 "Global Custodian honours Ashish Chauhan with Lifetime Achievement award during Leaders in Custody Asia - Global Custodian". www.globalcustodian.com. Retrieved 13 December 2023.
  15. 1 2 3 4 5 "How Ashish Chauhan is Reviving BSE | Forbes India". Forbes India. Retrieved 2 July 2017.
  16. ↑ Sengupta, Devina; Vijayaraghavan, Kala (29 July 2016). "25 years of reforms: Meet entrepreneurs of the open era". The Economic Times. Retrieved 12 July 2017.
  17. ↑ "BSE Institute Limited: Governing Board". Bombay Stock Exchange. Retrieved 3 November 2012.
  18. ↑ "BSE - Responsible for Development of India's Capital Markets" (PDF).
  19. 1 2 3 Dobhal, Shailesh (3 July 2015). "Lunch with BS: Ashishkumar Chauhan". Business Standard India. Retrieved 12 July 2017.
  20. ↑ Priyanka, Anup Varier; Sneha Jha (18 February 2010). "The Insiders - CIOs Who Became CEOs". CIO. Retrieved 14 June 2011.
  21. ↑ "BSE becomes world's fastest stock exchange: Ashishkumar Chauhan". The Economic Times. 13 October 2015. Retrieved 12 July 2017.
  22. ↑ Reporter, B. S. (22 September 2010). "BSE launches mobile trading". Business Standard India. Retrieved 12 July 2017.
  23. ↑ "BSE's online surveillance system". The Hindu Business Line. 11 March 2013. Retrieved 12 July 2017.
  24. ↑ "Like A Boss: BSE's Ashish Chauhan On The Best Place To Prepare For Leadership, His Management Mantra And More". Moneycontrol. 6 August 2020. Retrieved 11 January 2021.
  25. ↑ "Welcome to SME Platform". www.bsesme.com. Retrieved 2 November 2018.
  26. ↑ "economic times". 21 August 2018.
  27. ↑ "India Infoline".
  28. ↑ indiainfoline.com. "GIFT City | Prime Minister Narendra modi to inaugurate 'India International Exchange' on 9th January". Retrieved 12 July 2017.
  29. ↑ "Have been looking to list BSE since 10 years: Ashish Chauhan". Zee Business. 17 January 2017. Retrieved 12 July 2017.
  30. ↑ "BSE IPO sees bumper demand, issue oversubscribed 51 times". The Economic Times. 2017. Retrieved 12 July 2017.
  31. ↑ "BSE Commodities".
  32. ↑ "Governance Now honours achievers with Visionary Awards 2021". Governance Now. 28 January 2022. Retrieved 18 December 2023.
  33. ↑ https://www.bhaskar.com/local/uttar-pradesh/prayagraj/news/mumbai-ratna-award-to-the-chancellor-of-allahabad-university-ashish-chauhan-awarded-by-maharashtra-governor-bhagat-singh-koshyari-128728023.html. {{cite web}}: Missing or empty |title= (help)
  34. ↑ "IIM Calcutta".
  35. ↑ "2015 Asia-Pacific SABRE Winners". www.holmesreport.com. Retrieved 12 July 2017.
  36. ↑ Horasis.org. "Horasis Events :: India Meeting 2015". www.horasis.org. Archived from the original on 10 June 2017. Retrieved 12 July 2017.
  37. ↑ "Mr. Ashishkumar Chauhan honoured with Dr. R. H Patil award for excellence in Financial Services". Dalal Street Investment Journal. Retrieved 12 July 2017.
  38. ↑ "Mr. Ashish Kumar Chauhan | Alumni and Corporate Relations". www.iitb.ac.in. Retrieved 12 July 2017.
  39. ↑ "Citation" (PDF).
  40. ↑ "Zee Business presents India's Best Market Analyst Awards 2013". Zee News. 24 July 2013. Retrieved 12 July 2017.
  41. ↑ "The Global CIO 50: IT Leaders Changing the Business World - InformationWeek". InformationWeek. Retrieved 12 July 2017.
  42. ↑ "BSE's Ashishkumar Chauhan to head expert panel on bringing NITIE Mumbai under IIM Act". Financialexpress. 4 February 2022. Retrieved 18 December 2023.
  43. ↑ "All About Open Network for Digital Commerce". ONDC | Open Network for Digital Commerce. 19 July 2022. Retrieved 18 December 2023.
  44. ↑ https://www.zaubacorp.com/company/MAHA-ARC-LIMITED/U67190MH2022SGC391104. {{cite web}}: Missing or empty |title= (help)
  45. ↑ "Board of Management". gipe.ac.in. Retrieved 18 December 2023.
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