The National Stock Exchange (NSE) has shed its brown logo as part of the celebrations to mark 25 years of its existence. On the sidelines of an event in New Delhi on Wednesday to kick off its silver jubilee celebrations, managing director and chief executive Vikram Limaye indicated a solution was in sight regarding its tussle with the Singapore Exchange (SGX), it was reported.
The NSE’s new logo is a modern representation of a blooming marigold with red, yellow, orange, and blue hues. The NSE said in a statement that the multiple colours capture the multi-faceted nature of the business, with red denoting the exchange’s strong foundation; yellow and orange signifying prosperity and auspicious ventures; and the blue triangle denoting a compass, which guides them.
Meanwhile, according to a PTI report, Limaye said the NSE was working on a “structure” to address the issues with SGX and more clarity would emerge in the next two-three weeks. The two exchanges have been at loggerheads since February after the NSE among other bourses decided to stop licencing its indices to foreign exchanges from August this year. The SGX then announced in April that new Indian equity derivative products would be listed. Caught in the crossfire was the GIFT City in Gujarat, which should hopefully see transition of liquidity from the offshore market.
The re-branding exercise comes at a time the NSE is mulling a merger with commodity exchange MCX and is heading towards its initial public offering next year. The NSE is the third largest exchange in the world in terms of trade volume and ranks first in terms of index options contracts, according to the World Federation of Exchanges.
The celebrations were attended by former prime minister Manmohan Singh, Union minister Nitin Gadkari, NITI Aayog deputy chairman Rajiv Kumar, and Delhi lieutenant-governor Anil Baijal. The NSE was inaugurated by Singh in 1994 when he was finance minister.