Ravi Narain was critical in helping to develop India’s securities markets. He helped set up the Securities and Exchange Board of India, the country’s first market regulatory agency, as well as the National Stock Exchange of India, the country’s first fully electronic exchange with a national reach. By increasing the transparency of prices and the efficiency of settlement, NSE forced other exchanges to modernize their technology and improve their trading practices. NSE introduced futures in 2000 and quickly developed a hugely popular suite of index futures and options, once again serving as the catalyst for change. Ravi served as the exchange’s chief executive officer from its inception in 1994 until April 2013.