The board of National Stock Exchange (NSE), the country's biggest exchange by turnover, has appointed Vikram Limaye as the new MD and CEO. Limaye's appointment comes at a time when NSE is gearing up for its initial public offer (IPO) which is expected to be one of the biggest in recent times and two months after the sudden exit of Chitra Ramkrishna from the top post. The bourse is also facing regulatory issues over alleged preferential access to a few for co-location and algo trade facilities. The appointment, which was approved by NSE's board last week, is subject to the approval of shareholders and capital markets regulator Sebi. \u201cThe Board of Directors of the National Stock Exchange on February 3 and decided to appoint Vikram Limaye as MD and CEO of NSE, subject to the approval of shareholders and SEBI, for a period of five years," the exchange said. Limaye is at present the MD and CEO of IDFC, he was recently named in a 4-member panel appointed by the Supreme Court to administer cricket body BCCI.