Lathika Kundu, MD and CEO at Metropolitan Stock Exchange, views the debut of a Market Infrastructure Institution (MII) as a highly positive development for the broader investor community. For Kundu, who started her career as the first summer intern at the NSE, the listing is an emotional milestone that reinforces the financial ecosystem. She explained: “We are talking about a place which provides a platform and exchanges providing that platform to ensure that more listed companies come on that platform, a larger community of investors gets created.”
The interconnected nature of the newly listed entities creates a unique environment for domestic markets. Siddharth Balachandran, Executive Chairman and CEO of Bumeric Corporation, considers the event a watershed moment for the country. With the BSE listed on the NSE, the NSE listed on the BSE, and the NSE available as Permitted to Trade (PTT) on the Metropolitan Stock Exchange, the market structure is now fully linked. “I think it’s a great homogeneous mix, and it’s going to go a long way for our country to achieve our 30 trillion U.S. dollar aspiration,” Balachandran noted.
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The addition of the NSE to the Metropolitan Stock Exchange under the Securities and Exchange Board of India’s (SEBI) PTT framework adds to a growing roster of available instruments. The newer exchange currently hosts more than 3,000 companies in this category, with plans to gradually convert them to regular listings. While the NSE’s inclusion is a significant addition, Kundu believes the exchange’s broader appeal relies on multiple factors, including its state-of-the-art infrastructure, to position itself as the market’s new platform of choice.
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