Vadodara Stock Exchange or VSE is located in the city of Vadodara in Western India. It was established in 1990 at Baroda. It is the third largest stock exchange in the state of Gujarat after Ahmedabad and Rajkot. It is recognized by the Securities Contract (Regulations) Act of 1956 as a permanent stock exchange.
From a humble beginnings in 1986 as the Vadodara Stock Brokers' Association comprising of 150 members, it was incorporated in January 22 1990 as Vadodara Stock Exchange Limited. By 1999, the exchange had a total of 321 brokers, of which 65 were corporate brokers, 253 were proprietor brokers, and 3 were partnership brokers. Then, there was only 85 sub-brokers registered.
Board of Directors of Vadodara Stock Exchange Limited
1.1 Shri Sudhir N. Shah
1.2 Shri Parimal D. Nathwani
1.3 Shri Jayant Sanghvi
1.4 Shri Krupesh Patel
1.5 Shri Mukundbhai Patel
1.6 Shri Rajesh G. Sampat
1.7 Shri Ketan B. Shah
1.8 Shri Nitin H. Parikh
1.9 Shri Deepak H. Modi
1.10 Shri Nilkanth R. Jani
1.11 Shri CA Y. K. Shukla
1.12 Shri Dipak Raval
Showing posts with label Stock exchanges in India. Show all posts
Showing posts with label Stock exchanges in India. Show all posts
Wednesday, February 25, 2009
National Stock Exchange of India
The National Stock Exchange of India Limited or S&P CNX NIFTY (NSE), is a Mumbai-based stock exchange. It is the largest stock exchange in India in terms of daily turnover and number of trades, for both equities and derivative trading. Though a number of other exchanges exist, NSE and the Bombay Stock Exchange are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE's key index is the S&P CNX Nifty, known as the Nifty, an index of fifty major stocks weighted by market capitalisation.NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities. There are at least 2 foreign investors NYSE Euronext and Goldman Sachs who have taken a stake in the NSE. As of 2006[update], the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities. It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%.
Origins
NSE building at BKCThe National Stock Exchange of India was promoted by leading Financial institutions at the behest of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.
Innovations
NSE has remained in the forefront of modernization of India's capital and financial markets, and its pioneering efforts include:
* Being the first national, anonymous, electronic limit order book (LOB) exchange to trade securities in India. Since the success of the NSE, existent market and new market structures have followed the "NSE" model.
* Setting up the first clearing corporation "National Securities Clearing Corporation Ltd." in India. NSCCL was a landmark in providing innovation on all spot equity market (and later, derivatives market) trades in India.
* Co-promoting and setting up of National Securities Depository Limited, first depository in India.
* Setting up of S&P CNX Nifty.
* NSE pioneered commencement of Internet Trading in February 2000, which led to the wide popularization of the NSE in the broker community.
* Being the first exchange that, in 1996, proposed exchange traded derivatives, particularly on an equity index, in India. After four years of policy and regulatory debate and formulation, the NSE was permitted to start trading equity derivatives
* Being the first and the only exchange to trade GOLD ETFs (exchange traded funds) in India.
* NSE has also launched the NSE-CNBC-TV18 media centre in association with CNBC-TV18, a
Markets
Currently, NSE has the following major segments of the capital market:
Equity
Futures and Options
Retail Debt Market
Wholesale Debt Market
Currency futures
Hours
NSE's normal trading sessions are from 09:55am to 03:30pm on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance.[7]
Indices
NSE also set up as index services firm known as India Index Services & Products Limited (IISL) and has launched several stock indices, including [8] :
* S&P CNX Nifty
* CNX Nifty Junior
* CNX 100 (= S&P CNX Nifty + CNX Nifty Junior)
* S&P CNX 500 (= CNX 100 + 400 major players across 72 industries)
* CNX Midcap (introduced on 18 July 2005 replacing CNX Midcap 200)
Certifications
NSE also conducts online examination and awards certification, under its programmes of NSE's Certification in Financial Markets (NCFM)[3]. Currently, certifications are available in 19 modules, covering different sectors of financial and capital markets. Branches of the NSE are located throughout India.
Mangalore Stock Exchange
The Mangalore stock exchange Limited (MgSE), is located in Mangalore, Karnataka, India. It was incorporated on 31st of July, 1984 as a public limited company. The Exchange was recognised by the Central Government for an initial period of 5 years on 9th September 1985 under section 4 of the Securities Contracts (Regulation) Act, 1956 and later on the period of recognition was extended by one year, from 9th September 1990 to 8th September 1991. The last recognition was valid up to September 8, 2003. On August 31, 2004, SEBI decided to derecognize the Mangalore Stock Exchange.
Chief Minister S.M. Krishna laid the foundation stone for the new building of the Mangalore Stock Exchage (MgSE) at Kulur on Sept 28, 2001. The MgSE has been granted 3 acres (12,000 m2) of land by the state government.
Address
Mangalore Stock Exchange:
Kodialbail, 4th floor, Ram Bhavan Complex,
Mangalore 575 003
Karnataka, India
Phone: +91-824-440581/440582/441214
Fax: +91-824-440736
Chief Minister S.M. Krishna laid the foundation stone for the new building of the Mangalore Stock Exchage (MgSE) at Kulur on Sept 28, 2001. The MgSE has been granted 3 acres (12,000 m2) of land by the state government.
Address
Mangalore Stock Exchange:
Kodialbail, 4th floor, Ram Bhavan Complex,
Mangalore 575 003
Karnataka, India
Phone: +91-824-440581/440582/441214
Fax: +91-824-440736
Madras Stock Exchange
The Madras Stock Exchange is a stock exchange in Chennai, India (formerly Madras). The Madras Stock Exchange (MSE) is the fourth Stock Exchange to be established in the country, and the first in South India. It had a turnover (2001) of Rs 109 crores (25 million USD), but is a fraction (below 0.1%) of the turnover generated by the Bombay Stock Exchange and National Stock Exchange of India.
In 1996, the MSE was fully computerised and online trading became operational, as the MSE was connected to 120 broking offices in and around Chennai through Wide Area Networking.
The MSE has about 120 live members and 1,785 companies listed. The exchange follows the Rolling Settlement system, as per the January 2000 SEBI (Securities Exchange Board of India) Guidelines and a proactive Grievance Cell is operational. By this system, investors can log in their complaints, for which a number will be given for further reference, through which investors can keep track of the action taken by the exchange as regards their complaint.
A subsidiary company - MSE Financial Services Ltd, has been established. A member of the Bombay Stock Exchange, MSE Financial Services will help create greater broker and investor flexibility through multi-market access. Hereafter the members will be able to trade in both BSE and MSE. This will be followed up with National Stock Exchange (NSE) membership.
Live trading at the MSE takes place from 10.00 am to 3.30 pm.
In 1996, the MSE was fully computerised and online trading became operational, as the MSE was connected to 120 broking offices in and around Chennai through Wide Area Networking.
The MSE has about 120 live members and 1,785 companies listed. The exchange follows the Rolling Settlement system, as per the January 2000 SEBI (Securities Exchange Board of India) Guidelines and a proactive Grievance Cell is operational. By this system, investors can log in their complaints, for which a number will be given for further reference, through which investors can keep track of the action taken by the exchange as regards their complaint.
A subsidiary company - MSE Financial Services Ltd, has been established. A member of the Bombay Stock Exchange, MSE Financial Services will help create greater broker and investor flexibility through multi-market access. Hereafter the members will be able to trade in both BSE and MSE. This will be followed up with National Stock Exchange (NSE) membership.
Live trading at the MSE takes place from 10.00 am to 3.30 pm.
Madhya Pradesh Stock Exchange
Madhya Pradesh Stock Exchange is located at Indore, Madhya Pradesh, India.
History of Exchange
MPSEL was originally set up as an association in 1928, with around 150 broking members. It was granted permanent recognition under the provisions of the Securities Contract (Regulation) Act, 1956 (“SCRA”), by the Government of India in 1988. MPSEL currently has 185 broker members, including some of the leading brokering houses in India. Around 343 companies, including some of the leading corporates of the country are listed on MPSEL.
History of Exchange
MPSEL was originally set up as an association in 1928, with around 150 broking members. It was granted permanent recognition under the provisions of the Securities Contract (Regulation) Act, 1956 (“SCRA”), by the Government of India in 1988. MPSEL currently has 185 broker members, including some of the leading brokering houses in India. Around 343 companies, including some of the leading corporates of the country are listed on MPSEL.
Ludhiana Stock Exchange Association
Ludhian Stock Exchange Association Limited (LSE) was established in the year 1983. By 1999-2000, the exchange had a total of 284 brokers, out of which 79 were corporate brokers. Among 284 brokers, it was further classified as 212 proprietor broker, 2 partnership broker and 70 corporate broker. Then, there was only 23 sub-brokers registered.
Ludhiana Stock Exchange became the second bourse in India to introduce modified carryforward system after BSE on April 6, 1998. On the same date, LSE also introduced a settlement guarantee fund (SGF). The SGF guarantees settlement of transactions and the carryforward facility provides liquidity to the market.
LSE became the first in India to start LSE Securities Ltd., a 100% owned subsidiary of the exchange. The LSE Securities got the ticket as sub-broker of the NSE. In 1998, the exchange also got permission to start derivative trading.
For the settlement of dematerialised securities, the Ludhiana Stock Exchange has also been linked up with National Securities Depository Ltd. (NSDL).
Ludhiana Stock Exchange became the second bourse in India to introduce modified carryforward system after BSE on April 6, 1998. On the same date, LSE also introduced a settlement guarantee fund (SGF). The SGF guarantees settlement of transactions and the carryforward facility provides liquidity to the market.
LSE became the first in India to start LSE Securities Ltd., a 100% owned subsidiary of the exchange. The LSE Securities got the ticket as sub-broker of the NSE. In 1998, the exchange also got permission to start derivative trading.
For the settlement of dematerialised securities, the Ludhiana Stock Exchange has also been linked up with National Securities Depository Ltd. (NSDL).
Inter-connected Stock Exchange of India
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.
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.
Hyderabad Stock Exchange
The Hyderabad Stock Exchange (HSE) was a stock exchange established in 1941 located in Hyderabad, India. The exchange was disbanded in 2007.
History
In November 1941, some leading bankers and brokers formed the share and stock Brokers Association. In 1942, Mr. Gulab Mohammed, the Finance Minister, formed a committee for the purpose of constituting rules and regulations of the Stock Exchange. Sri Purushothamdas Thakurdas, president and founding member of the Hyderabad Stock Exchange performed the opening ceremony of the exchange on November 14, 1943 under Hyderabad Companies Act. Mr. Kamal Yar Jung Bahadur was the first president of the exchange. The HSE started functioning under Hyderabad Securities Contract Act of No. 21 of 1352 under H.E.H. Nizam’s government as a company limited by guarantee. It was the 6th Stock Exchange recognized under Securities Contract Act, after the Premier Stock Exchanges, Ahmedabad, Bombay, Calcutta, Madras, and Bangalore Stock Exchange. All deliveries were completed every Monday or the next working day.
The HSE was first recognized by the Government of India on 29 September, 1958 as Securities Regulation Act was made applicable to twin cities of Hyderabad and Secunderabad from that date. In view of substantial growth in trading activities, and for the yeoman services rendered by the exchange, the exchange was bestowed with permanent recognition with effect from 29 September, 1983.
Operations
The Hyderabad Stock Exchange Ltd. started its operations in a small way in a rented building in the Koti, Hyderabad area. It moved to Aiyangar Plaza, Bank Street in 1987. In September 1989, the then Vice-President of India, Shankar Dayal Sharma inaugurated the Stock exchange's own building at Himayathnagar, Hyderabad. Later, in order to bring all the trading members under one roof, the exchange acquired still larger premises situated at 6-3-654/A ; Somajiguda, Hyderabad - 82, with a six storied building and a constructed area of about 486,842 square feet (45,229.1 m2) (including cellar of 70,857 square feet (6,582.8 m2)).
The number of members of the Exchange was 55 in 1943, 117 in 1993 and increased to 300 with 869 listed companies having paid up capital of Rs.19128.95 crores as of March 31, 2000. The business turnover also substantially increased to Rs. 1236.51 crores in 1999-2000. The Exchange had a very smooth settlement system.
Derecognition of Stock Exchange
Securities and Exchange Board of India (SEBI) had notified The Hyderabad Stock Exchange Ltd. (Corporatisation and Demutualisation) Scheme, 2005 on August 29, 2005. The Hyderabad Stock Exchange Ltd. has failed to dilute 51% of its equity share capital to the public other than shareholders having trading rights on or before August 28, 2007. Consequently, in terms of section 5(2) of the Securities Contracts Regulation Act, 1956 (SCRA), the recognition granted to HSE was withdrawn with effect from August 29, 2007. After derecognization by SEBI, the company name has been changed to "Hyderabad Securities and Enterprises Ltd"
History
In November 1941, some leading bankers and brokers formed the share and stock Brokers Association. In 1942, Mr. Gulab Mohammed, the Finance Minister, formed a committee for the purpose of constituting rules and regulations of the Stock Exchange. Sri Purushothamdas Thakurdas, president and founding member of the Hyderabad Stock Exchange performed the opening ceremony of the exchange on November 14, 1943 under Hyderabad Companies Act. Mr. Kamal Yar Jung Bahadur was the first president of the exchange. The HSE started functioning under Hyderabad Securities Contract Act of No. 21 of 1352 under H.E.H. Nizam’s government as a company limited by guarantee. It was the 6th Stock Exchange recognized under Securities Contract Act, after the Premier Stock Exchanges, Ahmedabad, Bombay, Calcutta, Madras, and Bangalore Stock Exchange. All deliveries were completed every Monday or the next working day.
The HSE was first recognized by the Government of India on 29 September, 1958 as Securities Regulation Act was made applicable to twin cities of Hyderabad and Secunderabad from that date. In view of substantial growth in trading activities, and for the yeoman services rendered by the exchange, the exchange was bestowed with permanent recognition with effect from 29 September, 1983.
Operations
The Hyderabad Stock Exchange Ltd. started its operations in a small way in a rented building in the Koti, Hyderabad area. It moved to Aiyangar Plaza, Bank Street in 1987. In September 1989, the then Vice-President of India, Shankar Dayal Sharma inaugurated the Stock exchange's own building at Himayathnagar, Hyderabad. Later, in order to bring all the trading members under one roof, the exchange acquired still larger premises situated at 6-3-654/A ; Somajiguda, Hyderabad - 82, with a six storied building and a constructed area of about 486,842 square feet (45,229.1 m2) (including cellar of 70,857 square feet (6,582.8 m2)).
The number of members of the Exchange was 55 in 1943, 117 in 1993 and increased to 300 with 869 listed companies having paid up capital of Rs.19128.95 crores as of March 31, 2000. The business turnover also substantially increased to Rs. 1236.51 crores in 1999-2000. The Exchange had a very smooth settlement system.
Derecognition of Stock Exchange
Securities and Exchange Board of India (SEBI) had notified The Hyderabad Stock Exchange Ltd. (Corporatisation and Demutualisation) Scheme, 2005 on August 29, 2005. The Hyderabad Stock Exchange Ltd. has failed to dilute 51% of its equity share capital to the public other than shareholders having trading rights on or before August 28, 2007. Consequently, in terms of section 5(2) of the Securities Contracts Regulation Act, 1956 (SCRA), the recognition granted to HSE was withdrawn with effect from August 29, 2007. After derecognization by SEBI, the company name has been changed to "Hyderabad Securities and Enterprises Ltd"
Saturday, February 21, 2009
Delhi Stock Exchange Association
The Delhi stock Exchange Association Limited (DSE) is located in New Delhi, India. It was incorporated on June 25, 1947. The exchange is an amalgamation of Delhi Stock and Share Brokers' Association Limited and the Delhi Stocks and Shares Exchange Limited. It is India's fifth exchange. The exchange is one of the premier Stock Exchange in India. The Delhi Stock Exchange is well connected to 50 cities with terminals in North India.
The exchange has over 3,000 listed companies. It has received the market regulator's permission from BSE and has become a member. Now it facilitates the DSE members to trade on the BSE terminals. The exchange is also considered the same from NSE.
DSE Dematerialised Trading
Delhi Stock Exchange has paired up with the National Security Depository Limited (NSDL), and commenced trading in dematerialised shares. This started September, 1988. However, the option for delivering shares either in physical or demat form started in November 1998.
DSE Trade Guarantee Fund
DSE initialised its Rs.125 crore Trade Guarantee Fund on July 27, 1998. TGF guarantees all the transactions of the DSE interse through the Stock Exchange. If a member fails to honour the settlement commitment, TGF undertakes to fulfill the commitment and complete all the settlement without disruption.
Official address
DSE Office The Delhi Stock Exchange Association Limited West Plaza Indira Gandhi Stadium New Delhi-110002 India Tel.: +(91)-11-2337 9590, 2337 9951
The exchange has over 3,000 listed companies. It has received the market regulator's permission from BSE and has become a member. Now it facilitates the DSE members to trade on the BSE terminals. The exchange is also considered the same from NSE.
DSE Dematerialised Trading
Delhi Stock Exchange has paired up with the National Security Depository Limited (NSDL), and commenced trading in dematerialised shares. This started September, 1988. However, the option for delivering shares either in physical or demat form started in November 1998.
DSE Trade Guarantee Fund
DSE initialised its Rs.125 crore Trade Guarantee Fund on July 27, 1998. TGF guarantees all the transactions of the DSE interse through the Stock Exchange. If a member fails to honour the settlement commitment, TGF undertakes to fulfill the commitment and complete all the settlement without disruption.
Official address
DSE Office The Delhi Stock Exchange Association Limited West Plaza Indira Gandhi Stadium New Delhi-110002 India Tel.: +(91)-11-2337 9590, 2337 9951
Coimbatore Stock Exchange
The Coimbatore Stock Exchange Limited, (CSX) is located in Coimbatore, Tamilnadu, India. It is the youngest stock exchange in India. It was founded by K.G. Balakrishnan. It is now governed by the Governing Body which consists of the member brokers. Currently the staff strength is fifty.
The exchange also has Screen Based Trading (SBT) system which commenced operations on 9th of October, 1996. The system is equipped to handle 25,000 traders per day and 400 members. Each member has been given a computer terminal which is connected in a Local Area Network (LAN).
Coimbatore Stock Exchange Members
Currently the segregation of Coimbatore Stock Exchange are as follows:
Individual Members - 136
Corporate Members - 57
Chartered Accountants/ Company Secretaries - 40
MBAs - 17
Engineers - 14
Cost Accountants - 10
Post Graduates - 25
Coimbatore Stock Exchange Facilities Coimbatore Stock Exchange provides well equipped facilities to its members and investors. The facilities are library, canteen, spacious parking area, STD and Internet booths, Bank with security lockers, conference hall, gymnasium and other necessary services.
In near future, the exchange is planning for the implementation of Interconnected Stock Exchange to bring more business to the centre. Apart from the infrastructure, the exchange is planning for the set up of a Training Academy, Software Development, Research Centre and other useful activities.
It also has a plan to set up Additional Trading Floor (ATF) which will bring more traffic to the CSE building. Wide Area Networks through VSATs are also in the planning card.
The exchange also has Screen Based Trading (SBT) system which commenced operations on 9th of October, 1996. The system is equipped to handle 25,000 traders per day and 400 members. Each member has been given a computer terminal which is connected in a Local Area Network (LAN).
Coimbatore Stock Exchange Members
Currently the segregation of Coimbatore Stock Exchange are as follows:
Individual Members - 136
Corporate Members - 57
Chartered Accountants/ Company Secretaries - 40
MBAs - 17
Engineers - 14
Cost Accountants - 10
Post Graduates - 25
Coimbatore Stock Exchange Facilities Coimbatore Stock Exchange provides well equipped facilities to its members and investors. The facilities are library, canteen, spacious parking area, STD and Internet booths, Bank with security lockers, conference hall, gymnasium and other necessary services.
In near future, the exchange is planning for the implementation of Interconnected Stock Exchange to bring more business to the centre. Apart from the infrastructure, the exchange is planning for the set up of a Training Academy, Software Development, Research Centre and other useful activities.
It also has a plan to set up Additional Trading Floor (ATF) which will bring more traffic to the CSE building. Wide Area Networks through VSATs are also in the planning card.
Cochin Stock Exchange
The Cochin Stock Exchange Limited (CSE) is located at Kochi, Kerala in India. Incorporated in the year 1978, the stock exchange has been playing a vital role in shaping the economic development of the region.
INTRODUCTION
COCHIN STOCK EXCHANGE LTD. is one of the premier Stock Exchanges in India, established in the year 1978. The exchange had a humble beginning with just 5 companies listed in 1978 -79, and had only 14 members. Today the Exchange has more than 508 members and 240 listed companies. In 1980 the Exchange computerized its offices. In order to keep pace with the changing scenario in the capital market, CSE took various steps including trading in dematerialized shares. CSE introduced the facility for computerized trading - "Cochin Online Trading (COLT)" on March 17, 1997. CSE was one of the promoters of the "Interconnected Stock Exchange of India (ISE)". The objective was to consolidate the small, fragmented and less liquid markets into a national level integrated liquid market. With the enforcement of efficient margin system and surveillance, CSE has successfully prevented defaults. Introduction of fast track system made CSE the stock exchange with the shortest settlement cycle in the country at that time. By the dawn of the new century, the regional exchanges faced a serious challenge from the NSE & BSE. To face this challenge CSE promoted a 100% subsidiary called the "Cochin Stock Brokers Ltd. (CSBL)" and started trading in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
CSBL is the first subsidiary of a stock exchange to get membership in both NSE & BSE. CSBL also became a depository participant in the Central Depository Services Ltd.. The CSE has been playing a vital role in the economic development of the country in general, and Kerala in particular and striving hard to achieve the following goals:
• Providing investors with high level of liquidity whereby the cost and time involved in the entry into and exit from the market are minimized.
• Bringing in high tech solutions and make all operations absolutely transparent.
• Building infrastructure for capital market by turning CSE into a financial super market.
• Serve the investors of the region.
• Professional stock broking and investment management.
• Imparting Capital Market knowledge to all intermediaries on a continuous basis.
The Cochin Stock Exchange is directly under the control and supervision of Securities & Exchange Board of India (the SEBI), and is today a demutualized entity in accordance with the Cochin Stock Exchange (Demutualization) Scheme, 2005 approved and notified by SEBI on 29th of August 2005. Demutualization essentially means de-linking and separation of ownership and trading rights and restructuring the Board in accordance with the provisions of the scheme. The Exchange has been Demutualised and the notification thereof published in the Gazettee.
MANAGEMENT OF CSE LTD.
The policy decisions of the CSE are taken by the Board Of Directors. The Board is constituted with 12 members of whom less than one-fourth are elected from amongst the trading member of CSE, another one fourth are Public Interest Directors selected by SEBI from the panel submitted by the Exchange and the remaining are Shareholder Directors. The Board appoints the Executive Director who functions as an ex-officio member of the Board and takes charge of the administration of the Exchange
INTRODUCTION
COCHIN STOCK EXCHANGE LTD. is one of the premier Stock Exchanges in India, established in the year 1978. The exchange had a humble beginning with just 5 companies listed in 1978 -79, and had only 14 members. Today the Exchange has more than 508 members and 240 listed companies. In 1980 the Exchange computerized its offices. In order to keep pace with the changing scenario in the capital market, CSE took various steps including trading in dematerialized shares. CSE introduced the facility for computerized trading - "Cochin Online Trading (COLT)" on March 17, 1997. CSE was one of the promoters of the "Interconnected Stock Exchange of India (ISE)". The objective was to consolidate the small, fragmented and less liquid markets into a national level integrated liquid market. With the enforcement of efficient margin system and surveillance, CSE has successfully prevented defaults. Introduction of fast track system made CSE the stock exchange with the shortest settlement cycle in the country at that time. By the dawn of the new century, the regional exchanges faced a serious challenge from the NSE & BSE. To face this challenge CSE promoted a 100% subsidiary called the "Cochin Stock Brokers Ltd. (CSBL)" and started trading in the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE).
CSBL is the first subsidiary of a stock exchange to get membership in both NSE & BSE. CSBL also became a depository participant in the Central Depository Services Ltd.. The CSE has been playing a vital role in the economic development of the country in general, and Kerala in particular and striving hard to achieve the following goals:
• Providing investors with high level of liquidity whereby the cost and time involved in the entry into and exit from the market are minimized.
• Bringing in high tech solutions and make all operations absolutely transparent.
• Building infrastructure for capital market by turning CSE into a financial super market.
• Serve the investors of the region.
• Professional stock broking and investment management.
• Imparting Capital Market knowledge to all intermediaries on a continuous basis.
The Cochin Stock Exchange is directly under the control and supervision of Securities & Exchange Board of India (the SEBI), and is today a demutualized entity in accordance with the Cochin Stock Exchange (Demutualization) Scheme, 2005 approved and notified by SEBI on 29th of August 2005. Demutualization essentially means de-linking and separation of ownership and trading rights and restructuring the Board in accordance with the provisions of the scheme. The Exchange has been Demutualised and the notification thereof published in the Gazettee.
MANAGEMENT OF CSE LTD.
The policy decisions of the CSE are taken by the Board Of Directors. The Board is constituted with 12 members of whom less than one-fourth are elected from amongst the trading member of CSE, another one fourth are Public Interest Directors selected by SEBI from the panel submitted by the Exchange and the remaining are Shareholder Directors. The Board appoints the Executive Director who functions as an ex-officio member of the Board and takes charge of the administration of the Exchange
Calcutta Stock Exchange Association Limited
Calcutta Stock Exchange Association Limited , popularly the Calcutta Stock Exchange (CSE), located at the Lyons Range, Kolkata, India, was incorporated in 1908 and is the second largest bourse in India.History
In 1830, the bourse activities in Kolkata used to conducted under a neem tree. The earliest record of dealings in securities in India is the British East India Company’s loan securities. In 1908, the stock exchange was incorporated and had consisted of 150 members. The present building at the Lyons Range was constructed in 1928. The Calcutta Stock Exchange has been granted permanent recognition by the Central Government with effect from April 14, 1980 under the relevant provisions of the Securities Contracts (Regulation) Act, 1956. The Calcutta stock exchange followed the familiar outcry system for stock trading up until 1997, when it was replaced by an electronic (eTrading) system known as C-STAR (CSE Screen Based Trading And Reporting).
Alliance
Bombay Stock Exchange(BSE) has made a strategic investment in Calcutta Stock Exchange, acquiring 5% of its shares.
Profile
Committee
The committee of the Calcutta Stock Exchange Association Limited is superseded by SEBI and by the appointed administrator Mr. Tushar Kanti Das (IAS retired).
Public representatives
V.P.Ramachandran, IAS(Retd.)
Biswajit Choudhuri
Tallen Kumar, IAS
D.Chakraborty, IRS(Retd.)
Abhirup Sarkar
D.Paul, WBHJS(Retd.)
D.Basu, WBHJS(Retd.)
B.P.Dasgupta, WBHJS(Retd.)
Senior executives
P. K. Ray - Secretary
K.Mukhopadhyay - Deputy Secretary
P. Kumar - Manager-Market Operation, Margin & Legal
D. Biswas - Manager-Securities
M.A.V Raju - Manager-Surveillance and Inspection
P. S. Mohapatra - Manager-Information Technology
D. Chakraborty - Manager-Accounts and Administration
P. Chowdhury - Manager-Market Operation
B K Nadhani - Manager-Margin
A Santra - Manager-Surveillance
CSE indices
Two indices are in use:
CSE - 40 index
CSE - 50 index
Monday, February 16, 2009
Bombay Stock Exchange
The Bombay Stock Exchange Limited (Marathi/Hindi: मुंबई शेयर बाज़ार Mumbaī Śeyar Bāzār) (formerly, The Stock Exchange, Mumbai; popularly called The Bombay Stock Exchange, or BSE) has the greatest number of listed companies in the world, with 4700 listed as of August 2007. It is located at Dalal Street, Mumbai, India. On 31 December 2007, the equity market capitalization of the companies listed on the BSE was US$ 1.79 trillion, making it the largest stock exchange in South Asia and the tenth largest in the world.The Bombay Stock Exchange was established in 1875. Around 6,000 Indian companies list on the stock exchange, and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the "BSE 30", is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.
Alliances
Singapore Exchange (SGX) made a strategic investment in Bombay Stock Exchange, acquiring 5% of its shares for US$42.7 million. It is consistent with the strategy of building an Asian Gateway for securities and derivatives. BSE is also considering to take part of the capitalisation of the rising ascension of its partner, Singapore Exchange, which is becoming a leading financial hub in Asia-Pacific.
BSE also claims a strategic partnership with Deutsche Börse.
Hours of operation
Beginning of the Day Session....8:00 - 9:00
Login Session....9:00 - 9:30
Trading Session....9:55 - 15:30
Position Transfer Session....15:30 - 15:50
Closing Session....15:50 - 16:05
Option Exercise Session....16:05 - 16:35
Margin Session....16:35 - 16:50
Query Session....16:50 - 17:35
End of Day Session....17:35
The hours of operation for the BSE quoted above are stated in terms of the local time in Mumbai, India (also known as Bombay). This translates into a standard time zone UTC/GMT +5:30.
BSE's normal trading sessions are on all days of the week except Saturdays, Sundays and holidays declared by the Exchange in advance
Bhubaneshwar Stock Exchange
Bhubaneshwar Stock Exchange Association Ltd, (BhSE) is locate din Bhubaneshwar, Orissa, India. It was established in the year 1989. It is one among the 21 odd regional stock exchanges in India.
By 1999-2000, the exchange had a total of 234 brokers, out of which 15 were corporate brokers. Among 234 brokers, it was further classified as 209 proprietor and 15 corporate broker. Then, there was only 17 sub-brokers registered.
On 15 September, 2005, SEBI approved the corporatisation and demutualisation schemes of the Bhubaneshwar Stock Exchange which were required in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956.
By 1999-2000, the exchange had a total of 234 brokers, out of which 15 were corporate brokers. Among 234 brokers, it was further classified as 209 proprietor and 15 corporate broker. Then, there was only 17 sub-brokers registered.
On 15 September, 2005, SEBI approved the corporatisation and demutualisation schemes of the Bhubaneshwar Stock Exchange which were required in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956.
Bangalore Stock Exchange
Bangalore Stock Exchange (BgSE) is a public stock exchange based in Bangalore, India. It was founded in 1963 and currently has 595 regional and non-regional companies listed. In September 2005, the BgSE announced plans to go public by divesting at least 51% of its ownership. The stock exchange is managed by a Council of Management, consisting of members appointed by the Securities and Exchange Board of India. First stock exchange in South India to start electronic trading of securities in 1996.
Some of the companies that trade on the BgSE include Infosys, Wipro, United Breweries and Bharat Electronics Limited.
Some of the companies that trade on the BgSE include Infosys, Wipro, United Breweries and Bharat Electronics Limited.
Ahmedabad Stock Exchange
HistoryThe stock exchange was established as a Public Charitable Trust in 1894 following the establishment of the Bombay Stock Exchange in 1875. Initial functioning of the stock exchange was started under a banyan tree. Earlier the stock exchange functioned under the framework of the Bombay Securities Contracts Act, 1925. Following the The Securities Contract Regulations Act, 1956 the Gujarat Share & Stock Exchange, Indian Share and General Exchange Association and Bombay Share and Stock Exchange, Share and Stock Brokers Association merged with the Ahmedabad Share and Stock Brokers Association and gave rise to ASE as it stands today.
Automation
The stock exchange went live on December 12, 1996. Initially, ASE used a system provided by IBM. Since June 1999, ASE operates on Ahmedabad Stock Exchanges' Online Trading System (ASETS). This system was provided to ASE by Tata Consultancy Services Pvt. Ltd. Members of the ASE can also trade on the Bombay Stock Exchange though a system called IBOSS. Today the stock exchange has 333 trading members.
Current governing board
The governing board of ASE comprises elected directors as well as directors appointed by SEBI. The governing board meets every 15 days to review the working of the stock Exchange. The executive director is the administrative head of the ASE.
P.K.Ghosh - Non-Member Director
Babubhai P. Patel - Non-Member Director
Yogesh Doshit - Non-Member Director
Ashok Chhajed - Non-Member Director
Vijay Ranchan - Non-Member Director
Manish Bhatt - Non-Member Director
N. K. Bhola - Sebi Nominee
G. H. Dalal - Member Director
Anil Shah - Member Director
V. V. Rao - Executive Director
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