If you have only one exchange, you have a problem: BSE chief Ramamurthy

New BSE chief bats for competition, at least a duopoly in equity market space

In his first address after taking charge as BSE managing director (MD) and chief executive officer, Sundararaman Ramamurthy said on Friday that it will not be good if only one stock exchange survives.

Focusing on the importance of at least a duopoly in the equity market space, the ex-BofA chief operating officer urged brokers to enhance interoperability between exchanges. Currently, BSE’s rival -- the National Stock Exchange (NSE) -- has over 90 per cent market share in the cash segment and a virtual monopoly in the derivatives space.

Speaking at an event organised by the Association of National Exchanges Members