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NSE Listing: bourse has reservations on supervision by competitor

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NSE, National stock Exchange

New Delhi: National Stock Exchange will engage with regulatory authorities to sort out issues pertaining to cross-listing as it has "some reservations" about being regulated by a competing bourse, a top official said on Tuesday.

The leading stock bourse, which has nearly 1,400 firms listed on its platform, is prepared for self listing and for listing elsewhere provided the supervision is not with a rival exchange.

"We have some reservations about being regulated by a competing exchange... I think we will engage with the regulators and will see how," NSE managing director and CEO Chitra Ramkrishna said.

Speaking to Press Trust of India on the sidelines of a conference here, she said the exchange's listing committee is looking into the issues.

The exchange has formed the committee that would engage with stakeholders on self-listing agenda and seek their support on its stand against any kind of regulation by any other bourse.

Under the current Sebi norms, a stock exchange cannot get listed on its own platform.

NSE is opposed to the idea of cross-listing and wants to list shares only on its own platform, saying it cannot be subjected to regulation by a rival.

Recently, rival bourse BSE received in-principle approval from market regulator Sebi (Securities and Exchange Board of India) for its IPO.

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