Ashish Kumar Chauhan has assumed charge as the managing director and chief executive officer of the National Stock Exchange (NSE) from Tuesday.

He will have to steer NSE amid allegations of governance lapses, a co-location scam and phone-tapping probe.

He will also have to accomplish the much awaited initial public offer of the exchange that was derailed after the bourse got embroiled in the co-location controversy, where certain brokers were allegedly given unfair access to the exchange data feeds over other members.

NSE’s rival BSE Ltd is already a listed entity.

NSE has a significant position in the equity derivative segment and a large market share in the cash segment.

Under Vikram Limaye, the former CEO, the exchange had seen its revenues rising to around Rs 8,500 crore in 2021- 22 from Rs 2,681 crore in 2016- 17.

Limaye’s five-year tenure ended on July 15. He did not seek another term despite being eligible.

Chauhan had earlier resigned as the managing director and CEO of BSE and was relieved of his roles and responsibilities at the exchange from Monday.

BSE said an executive management committee will be running the exchange till the appointment of Chauhan’s successor.

“Chauhan has taken charge as MD and CEO of NSE from today,” NSE said.