 "sebi, market, stocks")
On January 6, the Securities and Exchange Board of India (Sebi) released a discussion paper on the review of the current ownership and governance norms regulating stock exchanges and depositories. Market infrastructure institutions (MIIs), such as exchanges, clearing corporations and depositories, occupy an unusual place in the market economy. While there is a great game afoot, of trading on financial markets, the MIIs are the entities which build and run the playing field. Their smooth and harmonious functioning is a pre-requisite for achieving a capable financial system. Indeed, a great deal of the achievements of Indian finance from 1991 onwards
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