Secondary Market Advisory Committee (SMAC)

# Members Details Capacity
1 Shri. G. Mahalingam
Ex-Whole Time Member, SEBI
Chairperson
2 Shri. Ashish kumar Chauhan
MD & CEO, NSE
Member
3 Shri. Sundararaman Ramamurthy
MD & CEO, BSE
Member
4 MD & CEO, MCX
Member
5 Shri. Arun Raste
MD & CEO, NCDEX
Member
6 MD & CEO, NSDL
Member
7 Shri. Nehal Vora
MD & CEO, CDSL
Member
8 Representative of DEA, MoF, Government of India
Member
9 Shri. Leo Puri
Chairman, JP Morgan, South & Southeast Asia
Member
10 Shri. Nithin Kamath
CEO, Zerodha
Member
11 Shri. Dhiraj Relli
MD & CEO, HDFC Securities
Member
12 Dr. Vinod Kumar Goyal
President, ANMI
Member
13 Shri. Kishor Kansagra
Chairman, BSE Broker Forum
Member
14 Shri. V.S. Sundaresan
Executive Director, MRD, SEBI
Member
15 Shri. Aliasgar S Mithwani
Executive Director, ISD, SEBI
Member
16 Shri. Shashikumar Valsakumar
CGM, MRD, SEBI
Member Secretary

Terms of reference of the Committee:


1. To review the developments in Secondary market;

2. To recommend measures for changes and improvements in market structure in view of the impending changes;

3. To recommend measures for improving market safety, efficiency, transparency and integrity;

4. To suggest measures for reducing transaction costs;

5. To recommend changes if required in the risk management / margin system;

6. To recommend changes if required in the regulatory framework in secondary market;

7. To take note of any new development which may have taken place in the secondary market between two consecutive meetings of the Committee and suggest measures;

8. To review the investor protection measures in the stock exchanges and suggest improvements;

9. Any other matter that Committee considers relevant or incidental thereto.