The Metropolitan Stock Exchange (formerly MCX Stock Exchange) has appointed Udai Kumar, Managing Director, Metropolitan Clearing Corporation (formerly MCX-SX Clearing Corporation) as interim MD and CEO of Metropolitan SE.

The exchange’s board of directors, who met here on Saturday, also accepted the resignation of incumbent MD and CEO Saurabh Sarkar and placed on records its appreciation for his achievement in the exchange.

Kumar is part of Indian capital markets for over two decades. He has experience in stock exchange administration, capital markets, fund raising and restructuring, besides mergers and acquisition. He has worked in senior capacity with large institutions such as JM Financial Consultants, JM Morgan Stanley, Centrum Capital and Fortune Financial. He joined MCC from Inter-connected Stock Exchange where he was the MD.

He holds in-depth knowledge of regulatory and operational issues in the functioning of stock exchange and clearing corporation and has updated knowledge of changing landscape in this business.