Ashish Chauhan

Ashishkumar Chauhan (Ashish Chauhan) is an Indian business executive and administrator. He is the current managing director and chief executive officer of the Bombay Stock Exchange (BSE).[1][2][3] He also serves as the member of Governing council of one of the premier B school in India - IIM Raipur. Ashish is best known as the father of modern financial derivatives in India, and is considered as one of the foremost experts in financial market policies, Information technology, organized retail, telecommunications and Indian social issues.

For other people with similar names, see Ashish Kumar (disambiguation).

Ashish Kumar Chauhan
CitizenshipINDIA
Alma materIIT Bombay
IIM Calcutta
OccupationMD & CEO of Bombay Stock Exchange
PredecessorMadhu Kannan
Children1

Career

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.[4][5]

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.[6] 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.[4] In addition, he was instrumental in setting up initial Information Technology infrastructure including the first commercial satellite telecom network in India for NSE.[7] 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.[4] 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.

Reliance Industries

In 2001, Chauhan left NSE to begin his entrepreneurship venture, financed by the Reliance group, and soon began working for Reliance Infocomm.[4][8] In 2004, Chauhan became the chief information officer (CIO) of Reliance Infocomm, and then the Reliance Group CIO in 2005.[4][8] He was also the CEO of the cricket team Mumbai Indians, owned by Reliance Industries, in its formative years.[8]

BSE

After leaving Reliance Industries, Chauhan joined BSE as Deputy CEO in 2009 and was appointed as CEO in 2012.[9] He is credited with reviving BSE including making it the fastest Exchange in the World with less than 6 microseconds response time,[10] introduction of Mobile Trading,[11] state of the art online real time surveillance system,[12] 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. 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.[13]

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.[14] 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.[15]

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.[16] 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.[17] BSE IPO was oversubscribed 51 times, with the public offer received bids for 550.8 million shares against 10.8 million shares on offer.[18]

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.[19]

Awards and Honours
  • Advisor and member Dalit indian chamber of commerce and industr(DICCI)
  • Distinguished Fellow 2017, Institute of Directors,
  • Distinguished Alumnus Award 2016 - IIM Calcutta[20]
  • CEO of the Year, Diamond Sabre Awards 2015, Hong Kong[21]
  • Indian Business Leader of the Year, Horasis Interlaken/Switzerland 2015[22]
  • RH Patil Award for Excellence in Financial Services, June 2015[23]
  • Distinguished Alumnus Award, Indian Institute of Technology, Bombay, 2014[24]
  • Best CEO in the Financial Markets in the Asia Pacific by the Asian Banker, 2014[25]
  • Zee Business Awards- Special contribution in Commodities and Capital Market, 2013[26]
  • TOP 50 CIOs, Information Week, US, 2009[27]

He is the Chairperson on the Board of Governors (BoGs) of the National Institute of Technology (NIT) - Manipur[28] and an Independent Director of the ICSI Insolvency Professionals Agency, a 100% subsidiary company of The Institute of Company Secretaries of India.[29] He is the Chairman of South Asian Federation of Exchanges (SAFE), a forum of 28 member entities from the SAARC region and neighboring countries which aims to provide platform to share, exchange and promote the technologies, experiences for the rapid growth and development of capital markets and regional as well as global integration.[30] He is a member of the SEBI committee on corporate governance to help improve the standards of corporate governance of listed companies in India,[31] advisor to Asia-Pacific Investment Council[32] and the Central Board of Direct Taxes (CBDT).[7][7][33]

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References
  1. "Ashishkumar Chauhan appointed MD & CEO of BSE". The Hindu. Mumbai. 2 November 2012. Retrieved 3 November 2012.
  2. "Ashish Chauhan appointed new BSE managing director". Daily News and Analysis. 2 November 2012. Retrieved 3 November 2012.
  3. Rajesh Mascarenhas (2 November 2012). "Ashishkumar Chauhan appointed as MD & CEO of BSE". The Economic Times. Mumbai. Retrieved 3 November 2012.
  4. "How Ashish Chauhan is Reviving BSE | Forbes India". Forbes India. Retrieved 2 July 2017.
  5. Sengupta, Devina; Vijayaraghavan, Kala (29 July 2016). "25 years of reforms: Meet entrepreneurs of the open era". The Economic Times. Retrieved 12 July 2017.
  6. "BSE Institute Limited: Governing Board". Bombay Stock Exchange. Retrieved 3 November 2012.
  7. "BSE - Responsible for Development of India's Capital Markets" (PDF).
  8. Dobhal, Shailesh (3 July 2015). "Lunch with BS: Ashishkumar Chauhan". Business Standard India. Retrieved 12 July 2017.
  9. Priyanka, Anup Varier; Sneha Jha (18 February 2010). "The Insiders - CIOs Who Became CEOs". CIO. Retrieved 14 June 2011.
  10. "BSE becomes world's fastest stock exchange: Ashishkumar Chauhan". The Economic Times. 13 October 2015. Retrieved 12 July 2017.
  11. Reporter, B. S. (22 September 2010). "BSE launches mobile trading". Business Standard India. Retrieved 12 July 2017.
  12. Bureau, Our (11 March 2013). "BSE's online surveillance system". The Hindu Business Line. Retrieved 12 July 2017.
  13. "Welcome to SME Platform". www.bsesme.com. Retrieved 2 November 2018.
  14. "economic times".
  15. "India Infoline".
  16. indiainfoline.com. "GIFT City | Prime Minister Narendra modi to inaugurate 'India International Exchange' on 9th January". Retrieved 12 July 2017.
  17. "Have been looking to list BSE since 10 years: Ashish Chauhan". Zee Business. 17 January 2017. Retrieved 12 July 2017.
  18. "BSE IPO sees bumper demand, issue oversubscribed 51 times". The Economic Times. 2017. Retrieved 12 July 2017.
  19. "BSE Commodities".
  20. "IIM Calcutta".
  21. "2015 Asia-Pacific SABRE Winners". www.holmesreport.com. Retrieved 12 July 2017.
  22. Horasis.org. "Horasis Events :: India Meeting 2015". www.horasis.org. Retrieved 12 July 2017.
  23. "Mr. Ashishkumar Chauhan honoured with Dr. R. H Patil award for excellence in Financial Services". Dalal Street Investment Journal. Retrieved 12 July 2017.
  24. "Mr. Ashish Kumar Chauhan | Alumni and Corporate Relations". www.iitb.ac.in. Retrieved 12 July 2017.
  25. "Citation" (PDF).
  26. "Zee Business presents India's Best Market Analyst Awards 2013". Zee News. 24 July 2013. Retrieved 12 July 2017.
  27. "The Global CIO 50: IT Leaders Changing the Business World - InformationWeek". InformationWeek. Retrieved 12 July 2017.
  28. ET Bureau (2 February 2016). "BSE MD Ashish Chauhan appointed as chairperson of NIT, Manipur". The Economic Times. Retrieved 12 July 2017.
  29. Srivats, K R (30 November 2016). "ICSI-IPA begins enrolling insolvency professionals". The Hindu Business Line. Retrieved 12 July 2017.
  30. PTI (12 May 2017). "BSE CEO Ashish Chauhan is new chairman of SAFE". livemint.com/. Retrieved 12 July 2017.
  31. "SEBI forms committee on corporate governance". The Hindu Business Line: Mobile Edition. 4 June 2017. Retrieved 12 July 2017.
  32. "Ashish CHAUHAN - Advisory Board". www.ap-investorscooperation.org. Retrieved 12 July 2017.
  33. Bureau, Our (2 November 2012). "Ashish Kumar Chauhan is new MD & CEO of BSE". The Hindu Business Line. Retrieved 12 July 2017.
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