BSE To Act On NSE F&O Expiry Shift Only After Hearing 'Market Voices', Says CEO Ramamurthy

Asia's oldest stock exchange will listen to feedback from market participants before reacting to a recent change in derivatives expiry day by its only domestic peer, said BSE Managing Director and Chief Executive Officer, Sundararaman Ramamurthy.

He emphasised that BSE's approach has always been driven by what traders and investors demand. “Our stand has always been, ‘we do what the market participants want.' Whatever is the voice of the customer, that is what we implement,” he told NDTV Profit in an exclusive interview.

BSE CEO Sundararaman Ramamurthy in an exclusive interview with NDTV Profit. (Photographer: Vijay Sartape/NDTV Profit)

The BSE chief executive added that no decision would be made unilaterally. “Any change in expiry dates will depend on what the market voice is. Once we are able to understand what the market advises, we will act accordingly.”

Earlier this week, NSE changed expiry day for its futures and options contracts to Monday. The tweak sparked discussions about impact on BSE's market share in options trading and revenue

Ramamurthy underscored that BSE's core mission is to provide a well-regulated marketplace. “Volumes are an outcome; the most important thing is to provide products that are required by the marketplace.”

Indian Investors' 'Ghar Wapsi' 

Ramamurthy stressed BSE's broader goal of making Indian markets more attractive to domestic and global investors. He pointed out that many Indian investors are trading on foreign exchanges, and BSE aims to arrange a 'ghar wapsi' (homecoming) for them.

To achieve this, BSE is investing heavily in infrastructure. “In the coming two years, we want to make BSE a world-class, customer-delight exchange,” he stated, adding that improvements are being made across technology, people, physical infrastructure, knowledge, and automation.

Ramamurthy shared his perspective on investing, urging caution and long-term planning. “Markets going up and down is part of market behaviour. Investors should invest in what they understand and understand what they invest in,” he advised. For new investors, he recommended starting small with mutual funds and systematic investment plans to navigate market cycles effectively.

He also highlighted the role of artificial intelligence in enhancing exchange operations. “AI will be tremendously useful for the exchange. I am sure that AI will play a vital role in the coming days,” he said.