NSE at a crossroads

The new MD, who takes over today, has his task cut out

National Stock Exchange (NSE) Chairman Ashok Chawla recently talked about the “difficult times” that the country’s largest stock exchange was going through. While his statement with the broad message of “we shall overcome” was understandable, given that it was aimed at boosting the morale of NSE employees, the task ahead of Vikram Limaye, the new managing director (MD) and chief executive officer (CEO) who takes charge on Monday, is formidable indeed. There is no doubt that the NSE, which controls about 80 per cent of India’s derivatives market, is facing its toughest phase. And the technology glitch that halted trading