Mumbai, June 24 -- Market regulator Securities Exchange Board of India (SEBI) on Tuesday issued a consultation paper on strengthening governance of the Market Infrastructure Institutions (MIIs) such as Stock Exchanges, Clearing Corporations, and Depositories.

The framework of the consultation will regulate the functioning of the stock exchanges and other bodies such as the National Stock Exchange (NSE), Bombay Stock Exchange (BSE), Central Depository Services Limited (CDSL), clearing corporations, among others.

According to the proposed consultation, the market regulator has proposed the appointment of two executive directors (EDs) for critical operations and Regulatory purepose.

"Mandating the appointment of two EDs, each heading 'Ver...