Indonesia Stock Exchange

Indonesia Stock Exchange (IDX) or in Indonesian Bursa Efek Indonesia (BEI) is a stock exchange based in Jakarta, Indonesia. It was previously known as Jakarta Stock Exchange (JSX) before it's name changed in 2007 after merged with Surabaya Stock Exchange (SSX). As of 31 December 2007, the Indonesia Stock Exchange had 383 listed companies with a combined market capitalization of $212 billion.

History
Originally opened in 1912 under the Dutch colonial government, it was re-opened in 1977 after several closures during World War I and World War II. After being reopened in 1977, the exchange was under the management of the newly created Capital Market Supervisory Agency (Badan Pengawas Pasar Modal, or Bapepam), which answered to the Ministry of Finance. Trading activity and market capitalization grew alongside the development of Indonesia's financial markets and private sector - highlighted by a major bull run in 1990. On July 13, 1992, the exchange was privatized under the ownership of Jakarta Exchange Inc. As a result, the functions of Bapepam changed to become the Capital Market Supervisory Agency. On March 22, 1995 JSX launched the Jakarta Automated Trading System (JATS). In September 2007, Jakarta Stock Exchange and Surabaya Stock Exchange merged and named Indonesian Stock Exchange by Indonesian Minister of Finance.


Stock Indices
Two of the primary stock market indices used to measure and report value changes in representative stock groupings are the JSX Composite and the Jakarta Islamic Index (JII). The JII was established in 2002 to act as a benchmark in measuring market activities based on Sharia (Islamic law). Currently, there are approximately 30 corporate stocks listed on the JII.[2] The FTSE/ASEAN Indices were launched by the five ASEAN exchanges (Singapore Exchange, Bursa Malaysia, The Stock Exchange of Thailand, Jakarta Stock Exchange, The Philippine Stock Exchange) and global index provider FTSE on September 21, 2005. The indices, covering the five ASEAN markets, are designed using international standards, free float adjusted, and based on the Industry Classification Benchmark (ICB). The indices comprise FTSE/ASEAN Benchmark Index and FTSE/ASEAN 40 tradable index. The FTSE/ASEAN 40 index is calculated on a real-time basis from 9:00 a.m. and the closing index is calculated at 6:00 p.m. (Singapore time). The FTSE/ASEAN benchmark index is calculated on end-of-day basis.


Merger
Both Jakarta Stock Exchange (JSX) and the Surabaya Stock Exchange (SSX) merged to form a new entity "Indonesia Stock Exchange ( Bursa Efek Indonesia). After the merger, the new entity will have seven directors.


Notes
^ Number of Listed Companies and Total Market Cap, Indonesia Stock Exchange page on Wikinvest
^ Asean Law Association, Indonesian Legal System, 2004

Vadodara Stock Exchange

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

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

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.

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.

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).