Severing ties with SGX won’t impact NSE: Ashok Chawla

NEW DELHI: Quashing all the conjectures that cutting ties with SGX (Singapore Stock Exchange) will put NSE in a spot, Ashok Chawla, Chairman, NSE has said that there will be no impact from the move.

"There would have been an impact on the volumes at the Singapore Exchange," Chawla said further in an interaction with ETNow.


Last month, domestic exchanges cut off data to global bourses in a move to curb capital flight and lure foreign investments into the country from Singapore and other financial centres.

On present market conditions, Chawla said he doesn't think there is much cause for concern. "Markets and volatility are old friends so there will always be some volatility but it is not as if the markets are in choppy waters at this point in time."

The exchange is in advanced talks with SGX to introduce an index in Gujarat’s Gift City. Without disclosing any details, he said both the exchanges are in talks to launch the product.

Asked about NSE's growth and its comparison with BSE, Chawla replied "NSE has been doing well. It is in a way a barometer of the India growth story and the Indian markets. So, we will continue to serve all the stakeholders." "I do not think we need to be comparing with each other or with any other exchange," he said.

On co-location case, Chawla said NSE was hopeful the pending investigation which Sebi is doing will get over soon. Once the issue gets settled, NSE will move on with its future plans including IPO.