Millennium Post

NSE tops stock exchange CEO pay chart, MCX for commexes

Chiefs of leading stock exchange NSE and the top commodity bourse MCX have topped the executive salary charts of their businesses, getting hike of nearly 6 per cent in last fiscal.

Among the stock exchanges, the net pay package of National Stock Exchange (NSE) managing director and CEO Ravi Narain rose to Rs 4.1 crore in 2011-12, from Rs 3.85 crore in the previous fiscal, as per the bourse's latest annual report.

In comparison, the remuneration of BSE's then chief Madhu Kannan stood at Rs 1.69 crore last fiscal, down from Rs 2.04 crore in 2010-11. Earlier this year, Kannan left the exchange.

NSE's another rival MCX-SX, which is currently present only in currency derivatives segment and is gearing up to launch equity and other trading platforms, paid its MD and CEO Joseph Massey a total remuneration of Rs 1.8 crore in 2011-12, unchanged from the previous year. The gross remuneration of NSE's Narain stood at Rs 7.88 crore in 2011-12, up from Rs 7.35 crore in the previous year.

Among the commodity exchanges, MCX’s Lamon Rutten was the top-paid executive in 2011-12 with a pay package of Rs 1.76 crore, up from Rs 1.07 crore in the previous fiscal. Rutten recently resigned as MD and CEO of the exchange, but remains on its board.
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