The role of market infrastructure institutions has been continuously evolving to meet the challenges of the emerging securities market. These institutions are increasingly called upon to undertake regulation and supervision of the markets, while simultaneously pursuing commercial objectives.

SEBI Board had considered the issues with regard to the emerging market microstructure and the evolving role of market infrastructure institutions, which call for a review of their ownership and governance structure to ensure that they remain relevant and effective.

SEBI Board in its meeting held on December 22, 2009 approved the proposal to constitute a Committee to look into the issues and concerns in the above matter. Accordingly, a Committee has now been constituted under the Chairmanship of Dr. Bimal Jalan (Former Governor, Reserve Bank of India).