BSE, Asia’s oldest bourse, has failed to make any breakthrough in the derivatives segment. The entire derivatives liquidity pool is with bigger rival National Stock Exchange (NSE). The exchange under its new Managing Director and Chief Executive Officer SUNDARARAMAN RAMAMURTHY is taking a fresh crack at it by relaunching the Sensex and Bankex derivatives. To attract investors, the exchange has reduced lot sizes and moved the expiry cycle to Friday. It is also engaging with brokers, software developers, and algo traders to boost volume. Ramamurthy says BSE has put in place the right building blocks to make it a success. In conversation with Samie Modak, he explains why the country needs competition in the exchange space. Excerpts: