In a major attempt to recapture its past glory, the Madras Stock Exchange has hired a private consultant to restructure its organisational structure.
The mandate to the consultant is to suggest a new management format for the exchange that is in keeping with the new market requirements and changing investment climate.
The local consultant - Srinivasa Raghavan - hired for the purpose has been given the mandate to suggest an operational set up that will give equal importance to investor needs just as it does to the operational aspects of the exchange.
The existing structure consists of a president, executive director and a governing council which collectively act as the decision-making body.
To look at the day-to-day administration and operational aspects of its functioning, the stock exchange works with a team of professionals headed by officials of the rank of a general manager.
The consultant is to meet with all key departments of the exchange before finalising the report.
The exchange, it may be recalled, has been making rapid strides to catch up with the offerings of other exchanges. For instance, it has systematically and gradually put in place facilities like screen-based trading, the trade guarantee fund and an insurance cover that will serve as an additional back up to the fund. eta name="description" content="The Rs 107-crore Glenmark Pharmaceuticals has appointed Arthur Andersen to advise it on its corporate strategy for the next millennium.">
