NYSE Euronext CFO appointed on NSE board

Written by Agencies | New Delhi, September 29: | Updated: Sep 30 2007, 00:18am hrs
Nelson Chai, the Chief Financial Officer and Executive Vice President of New York Stock Exchange's arm NYSE Euronext has been appointed on the board of Mumbai-based National Stock Exchange (NSE).

NYSE Euronext, owns a 5 per cent equity stake in the Mumbai-based NSE, the maximum investment currently permitted by a foreign investor in a stock exchange under the securities laws of India.

"This further underscores NYSE Euronexts commitment to develop its business on an international scale. The partnership with NSE is mutually beneficial and this will extend NYSE Euronext's global reach by advancing our competitive position in India, Chai said in a statement.

He is also a member of the NYSE Euronext Management Committee.

The New York Stock Exchange which is a subsidiary of NYSE Euronext (NYX), currently lists 12 companies from India.

Besides, NSE which ranks third globally by the number of trades in the equity market and hosting the flagship index, the Nifty 50, NYSE Euronext is a holding company created by the combination of NYSE Group, Inc and Euronext N V.