Vikas Goel takes charge as MD & CEO of NCDEX; exchange eyes expansion into equities
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National Commodity & Derivatives Exchange (NCDEX) has appointed Vikas Goel as its managing director and chief executive officer, effective August 1, 2026, as the exchange prepares to expand beyond commodities into the equity and equity derivatives segment.
Goel succeeds Dr. Arun Raste, whose tenure as MD & CEO concluded on June 6, 2026, and was subsequently extended until July 31 to ensure a smooth leadership transition.
Extensive financial markets experience
Goel brings more than three decades of experience across treasury, global markets, fixed income and financial market operations. Before joining NCDEX, he served as Managing Director and CEO of PNB Gilts Limited between February 2019 and December 2024, where he also chaired the Board of the Primary Dealers Association of India. During his tenure, the company strengthened its market position to become the country’s second-largest primary dealer in government securities.
His previous assignments include senior leadership roles at First Abu Dhabi Bank, National Bank of Abu Dhabi, Crédit Agricole Corporate and Investment Bank, and American Express Bank Ltd., where he worked across treasury and global markets functions. He holds an MBA in Finance and Marketing from The Ohio State University’s Fisher College of Business and a Bachelor of Commerce (Honours) from Shri Ram College of Commerce, University of Delhi.
Focus on growth and diversification
According to NCDEX, Goel assumes leadership at a pivotal stage as the exchange seeks to diversify its offerings through a proposed entry into the equity and equity derivatives segment. The exchange expects the strategic expansion to strengthen its position in India’s evolving financial markets under his leadership.
“This strategic foray is expected to gain significant momentum under his stewardship, further strengthening NCDEX’s position in India’s evolving financial markets,” the exchange said in a statement.
NCDEX said it also plans to build on its recently launched Mutual Fund Transaction Platform, expand its commodity derivatives product basket and advance its initiative to introduce weather derivatives, alongside strengthening its existing businesses.