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President's Message

Dear Friends,

I am extremely grateful to all for reposing faith in me for leading ANMI for the year 2018-19. I record my sincere gratitude and appreciation to all the past Presidents for the relentless work done by them. In particular, during last year, many new issues were taken up by Mr. K. Suresh concerning our industry. I propose to conclude some of them to the satisfaction of our members, while addressing the concerns of the regulators.

ANMI needs to be strengthened. Even though we have a very distinguished Board of Directors, the position is co-existent with each one’s own business. Thus, there is a limited amount of time that is available to run the association. To fill this gap, we propose to hire a CEO who will be able to devote his/her entire energies to our members’ causes. To do that however, we need to improve our financial capabilities. We shall work out the finances and come to you with a proposal if required to raise additional funds as a onetime measure.

A lot of changes have been proposed by SEBI that will reshape our markets in the coming year. They pertain to

  1. Interoperability of Clearing Corporations
  2. Unified Cash/F&O Settlements
  3. Delivery based F&O
  4. Cyber security

This, apart from the issues that we are currently grappling with such as Enhanced Supervision and measures to prevent Unauthorized Trading, will require a lot of effort of efforts from our side. I hope to be able to represent our view of things well with the authorities.

The broking industry cannot grow by simply waiting for things to improve. Technology has disrupted many a business, and our industry must adapt to the technological invasion that is changing the landscape around us. We must not seek protection; rather ask for enhanced freedom to expand our horizons. Brokers must also consider M&A options that will lead to savings in costs.

In the year 2017-18, ANMI organized very successful International Convention where it was graced by SEBI Ex. Chairman Smt. Arundhati Bhattacharya and MD & CEO’s of all Exchanges. It was well attended by our Members. Conventions are important events that enable fellowship as well as give us financial strength. I seek your support for the next convention which must get bigger and better year after year.

I wish to congratulate and commend all our Regional Chairman and Regional Council Members for FY 2018-19. They shall work effortlessly for their region.

I request all members to communicate freely with ANMI by writing to your regional chapters on any issue that bothers you. We will make sure that ANMI will respond and support all genuine concerns of our members. We must however be on guard against a few of our own who have defrauded investors. Please report them to ANMI if you have an inkling of wrong doing by any fellow member.

Let us work collectively as a team to ensure we do business with dignity and comfort, integrity and ethics, excellence and innovation, for the benefits and prosperity of all markets participants. Let us be proactive in dealing with the Government, The Regulators, The Exchanges, our colleagues, customers and employees in our quest for a better tomorrow for all.

Thanks and Regards,

Rajesh Baheti
National President, ANMI