BSE chief operating officer Mahesh L Soneji would be looking after the interests of the exchange till a new appointment is made.
Move follows 26 per cent acquisition in Ahmedabad's NMCE.
The Bombay Stock Exchange's journey from being a brokers' club to becoming a professionally managed entity seems to have got derailed once again, with a spate of resignations in the past three months.
The Bombay Stock Exchange has called off its plan to acquire 26 per cent in the Ahmedabad-based National Multi Commodity Exchange. The deal was terminated just before the resignation of BSE Managing Director and CEO Rajnikant Patel.
The Bombay Stock Exchange (BSE) is looking at picking up stakes in regional exchanges, which have to demutualise by August-September 2007.
Following its conversion into a corporate body, the Bombay Stock Exchange on Wednesday said it will strengthen its governance standards and practices and expected listed entities to diligently follow governance norms.
The Bombay Stock Exchange could list on its own market this year either through an initial public offering or a direct listing, Rajnikant Patel, the group's chief executive, said. The move, part of efforts to reform India's second largest equities market after its demutualisation in 2005, comes as it seeks to raise its international profile.
"We will launch futures trading on the Chicago futures exchange in a month or two. The trading on Sensex futures will be for 23 hours a day," says Rajnikant Patel.
"We will complete the transformation within May 2007 and are talking to select foreign exchanges for a possible partnership," Bombay Stock Exchange Ltd managing director and CEO Rajnikant Patel said.
The Bombay Stock Exchange might tap the capital market to raise resources as part of its business plan for future growth.
You may have to pay for using the Bombay Stock Exchange's benchmark Sensex or other indices for launching any product or scheme based on it, as Asia's oldest stock exchange is increasingly becoming protective about its brands.
Maintaining that India wants good relations with Pakistan, Union Home Minister Rajnath Singh said resumption of stalled talks with Islamabad was possible if there was an improvement in the situation.
Rules for market infrastructure institutions such as stock exchanges, clearing corporations, and depositories have come under review by Sebi after five years.
The controversial Control of Terrorism and Organised Crime Bill was passed by the Gujarat assembly on Tuesday, which allows police to intercept and record telephonic conversations and submit them in court as evidence.
'If Haider petitions the court and the government for legitimate rights it is called minority appeasement, but when Hardik orchestrates violence he is lionised, romanticised and given huge media space that ends up both legitimising and oxygenating his movement, no matter how contrary it is to the Rule of Law,' argues Shehzad Poonawalla.
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