The National Stock Exchange and the Bombay Stock Exchange along with other market infrastructure companies have reportedly sought a one-time regulatory approval to venture into business areas outside SEBI's purview. They have sought SEBI's permission to engage in activities or businesses that are unrelated to, or not identical to, those of a stock exchange (SE) or of clearing corporations (CCs) or their core business, through a separate legal entity.
Proposals to this effect are said to have been made to the newly-formed SEBI committee headed by former Reserve Bank of India Deputy Governor R Gandhi, which has been mandated to review norms for stock exchanges, depositories, and CCs. These proposals relate to data repository services, artificial intelligence (AI) or a big data analytics eco-system.
May it be noted that the NSE is the largest promoter of Computer Age Management Services (CAMS) and NSDL e-Governance, via an investment vehicle. CAMS is a virtual monopoly in transaction processing and customer care services to mutual funds and a service partner to insurance companies, banks, NBFCs and private equity funds. It also serves as PAN facilitation center for new applicants and extends PAN-related services.
CAMS is an approved GST Suvidha Provider that facilitates seamless GST services.
Similarly, NSDL e-Governance, which is co-promoted by a network of large private banks, works with government agencies to design, manage and implement e-governance projects including GSTN. NSDL e-Governance is a sister concern of NSDL, the equity depository service provider. Additionally, NSDL e-Governance is a registrar for the Unique Identification Authority of India, which issues Aadhaar number to residents. All these businesses are a gold mine of data and can propel these companies into the future of the AI ecosystem.
BSE has tied up with Switzerland's algorithmic data analysis firm Sentifi to report social media updates related to 40,000 globally-listed stocks. It is also betting big on selling insurance policies via a real-time e-platform.
The stock exchanges' desire to branch off into other businesses is triggered by the fact the valuations of their current business is not growing because capital markets are heavily regulated.
Readers' Choice
L K Atheeq appointed Financial Advisor to Karnataka CM; T G Nath Add CS
Former Himachal Pradesh CS Appointed Chairperson of PSERC
K K Pant gets additional charge of Himachal Chief Secretary
Five names under consideration; K K Pant ahead in the race for Himachal CS
Lucknow Ends Ad Hoc Era: Rajiv Krishna Appointed as Regular DGP of Uttar Pradesh
NSE, BSE want to diversify into other businesses
By IndianMandarins - 2017-12-04 10:56:38
The National Stock Exchange and the Bombay Stock Exchange along with other market infrastructure companies have reportedly sought a one-time regulatory approval to venture into business areas outside SEBI's purview. They have sought SEBI's permission to engage in activities or businesses that are unrelated to, or not identical to, those of a stock exchange (SE) or of clearing corporations (CCs) or their core business, through a separate legal entity.
Proposals to this effect are said to have been made to the newly-formed SEBI committee headed by former Reserve Bank of India Deputy Governor R Gandhi, which has been mandated to review norms for stock exchanges, depositories, and CCs. These proposals relate to data repository services, artificial intelligence (AI) or a big data analytics eco-system.
May it be noted that the NSE is the largest promoter of Computer Age Management Services (CAMS) and NSDL e-Governance, via an investment vehicle. CAMS is a virtual monopoly in transaction processing and customer care services to mutual funds and a service partner to insurance companies, banks, NBFCs and private equity funds. It also serves as PAN facilitation center for new applicants and extends PAN-related services.
CAMS is an approved GST Suvidha Provider that facilitates seamless GST services.
Similarly, NSDL e-Governance, which is co-promoted by a network of large private banks, works with government agencies to design, manage and implement e-governance projects including GSTN. NSDL e-Governance is a sister concern of NSDL, the equity depository service provider. Additionally, NSDL e-Governance is a registrar for the Unique Identification Authority of India, which issues Aadhaar number to residents. All these businesses are a gold mine of data and can propel these companies into the future of the AI ecosystem.
BSE has tied up with Switzerland's algorithmic data analysis firm Sentifi to report social media updates related to 40,000 globally-listed stocks. It is also betting big on selling insurance policies via a real-time e-platform.
The stock exchanges' desire to branch off into other businesses is triggered by the fact the valuations of their current business is not growing because capital markets are heavily regulated.
