Inter-connected Stock Exchange (ISE) started its operation in 1998 in Vashi, Mumbai. It was envisaged by its founders as an alternative to the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) for brokers/members from the regional stock exchanges. Those were the days when NSE was the only national exchange in India and the BSE had just been granted a licence to expand nationwide. It initially began as a creation of a consolidated limit order book across all these regional exchanges. However, it ended up in creating a new exchange. The exchange provides trading in stocks from regional exchanges, BSE and NSE.
However right from its inception, ISE has struggled to attract enough liquidity and interest in its market. Over a period of time it became subsidiary of the NSE, and provides sub-broker services to its members.
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