Back in 2010, one of the reasons we even considered becoming a brokerage firm was because of NSE NOW. It was a free trading platform provided by the NSE that brokers could offer to their clients.

While we were starting out, I had heard a lot of scary stories about the exchanges, but our experience was the total opposite. When we went to Chennai to inquire about a membership, they were incredibly welcoming. When they realised we didn’t have a lot of money, they even waived our membership fee of ~₹5 lakh. This is just one of many instances where the NSE was more than gracious throughout our journey.

In many ways, we are around only because of the NSE. When we started, we didn’t have the money to build our own trading platform. If there is one company I personally feel a sense of obligation towards, it is the NSE. 😀

Given that it is NSE, I have no doubt that it will be a successful IPO (PS: this is not a recommendation).

By the way, India’s market infrastructure and regulations are probably way ahead of most markets in the West. Exchanges here also act as the first-level regulators, which means a lot of what brokers traditionally do elsewhere is handled directly at the exchange and depository level. If it weren’t for that, I sometimes wonder what the point of brokers like us would even be. 😀

Go to link →