Mr. Ravi Narain MD & CEO, NSE Conducts Session on "Developments in Indian Markets & Global Trends" at JBIMS, Mumbai

Mr. Ravi Narain MD & CEO, NSE Conducts Session on "Developments in Indian Markets & Global Trends" at JBIMS, Mumbai

In its continued attempt to help student interface with the industry stalwarts, JBIMS hosted on campus Mr. Ravi Narain, MD & CEO, NSE for a session on "Developments in Indian Markets and Global Trends".

Mr. Narain is also the Chairman of the National Securities Clearing Corporation Ltd. and NSE. IT Ltd. He is on the Board of the World Federation of Exchanges and several other companies.

Mr. Narain started the session by sharing his experiences of setting up the NSE despite not knowing much about a stock exchange and the various challenges that he faced in the course of doing so. He stressed on concept of de-mutualised stock exchanges and compared the same with the game of cricket and how the umpires were not involved in the game and still regulated the same, highlighting importance of regulation and business not to be intertwined.

Mr. Ravi Narain Interacting With Students During the Session "Developments in Indian Markets & Global Trends" at JBIMS, Mumbai

Mr. Narain also threw light on history of exchanges worldwide and how NSE went about the transition to an electronic based exchange and a benchmark of a world-class exchange. He stressed on how transparency and efficiency are important for a stock exchange. Mr. Narain then moved on to recent developments in Indian Securities market. He explained Interest Rate futures and Currency futures, both recently launched by NSE. He also gave his opinion on extension of trading hours and ways in which it will impact Indian markets.

Mr. Narain then went on to explain various terms like Value at Risk, dark pool of liquidity and their relevance in stock market trading. He also talked on how OTC markets in India are performing when compared to Exchange traded markets. Explaining the impact of Global Financial crisis and the takeaways for Indian markets from the same, Mr. Narain talked on how NSE tackled huge amounts of trade position when Sensex hit circuit-breaker after election results.

Mr. Narain said that India must have more sophisticated products and that there is a need to build up a more robust Financial system. Mr. Narain talked on prospects of a specialized platform for raising capital for small & medium enterprises through a SME exchange. He also talked on IDR listing and Mutual funds trading on exchange and the ways in which they would impact Stock Exchange Revenue model.

The session was a highly interactive one and at the same time, of immense learning value to the budding managers present in large numbers. Such sessions from the stalwarts are bound to imbibe a sense of motivation amongst the students.

Concluded.

Contributed by -
Dishant Shah & Sameer Dohadwala,
The Corporate Relations Committee,
Jamnalal Bajaj Institute of Management Studies, Mumbai.

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