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Cochin Stock Exchange to launch Web trading, terminals abroad

The Cochin Stock Exchange, a member of the Inter-Connected Stock Exchange of India Limited, proposes to offer round-the-clock screen-based trading facility on its Website from October 1, according to CSE president Chacko Kallivayalil.

The CSE has also submitted a proposal through the ICSE (click for an interview with its MD) to the Securities and Exchange Board of India to set up trading terminals abroad besides planning to become a member of the Bombay Stock Exchange and the National Stock Exchange to enable its brokers to serve the investing community in a better way, he said.

SEBI, he said, had also approved operationalising the CSE's Trade Guarantee Fund which would enable the CSE to start Decentralised Share Segment Trade Guarantee Fund.

The operationalisation of the TGF would also enable the CSE to apply to SEBI for commencing modified carry over which, Chacko said, would further enhance the CSE's volume of operations.

Meanwhile, ICSE chairman M R Mayya, who was also present at the media conference in Kochi, said the number of participating stock exchanges on the ICSE (which commenced operations from February 1999) is expected to go up from 11 to 13 by September.

He said the ICSE is a very futuristic concept and this methodology of consolidation of stock exchanges that is prevalent in various other countries was expected to reduce costs and improve investors' reach. As such it was bound to succeed in India also, he opined.

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