Zerodha CEO Nithin Kamath on Sunday took to Twitter to wish NSE (National Stock Exchange) of India on its 30th anniversary. He also credited the formation of his company -- the country's largest stock brokerage platform -- to NSE's free software for brokers, NOW (Neat On Web).
"Happy 30th NSE India," Kamath tweeted. "Feels like yesterday when we first saw NSE NOW in 2009 — the free platform NSE offered its brokers. This led to us questioning if tech is free, can we disrupt the pricing? An arbitrage trade."
"Zerodha wouldn't have happened if not for NSE and NOW," Nithin Kamath added.
This is not the first time that the Zerodha CEO has expressed gratitude towards NOW. In a 2020 LinkedIn post, he said, "Tried NOW a free trading platform by NSE for the first time back in 08. It was barebones but faster than others. This gave us the idea if tech is free, can pricing be disrupted and the rest is history. Today is the last day of NOW which enabled many brokers like us to get started."
Speaking to Moneycontrol earlier this year, Kamath also revealed that NSE NOW had an important role to play in his journey as an entrepreneur.
After quitting his regular job and taking up portfolio management, Kamath had realised that it would be easier for him to manage his growing number of customers if he became a sub-broker. "So I went and became a sub-broker of a brokerage firm. Then NSE launched this free trading platform. It’s called NSE Now. And that is when I thought there is an opportunity to probably become a broker," he told Moneycontrol.
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