Financial Daily from THE HINDU group of publications
Saturday, Sep 20, 2003
Financial Daily from THE HINDU group of publications Saturday, Sep 20, 2003 |
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Markets
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Stock Exchanges BSE online hub set up in Kolkata Our Bureau
Kolkata , Sept.19 THE Bombay Stock Exchange (BSE) on Friday operationalised its second hub outside Mumbai for its online trading system, BOLT. The exchange also inaugurated an investor service centre here. Mr S.B. Patankar, BSE Director (Information Systems), told Business Line that the success of the two hubs — in New Delhi and Kolkata — would determine the timing of the next two proposed hubs. The BSE has planned to set up one hub in Ahmedabad and one in the southern region. Mr A.A. Triodkar, Director and Secretary of the BSE, said the location of the southern hub has not yet been decided. "The choice would be between Kochi and Chennai. The hubs in Ahmedabad and in the southern region are likely to come up during this financial year," he added. The hubs are to reduce cost for BOLT connectivity and enhance speed of responses for brokers outside Mumbai. According to Mr R. Vaidyanath, General Manager and head of derivatives segment, the BSE is striving to aggressively reach out its derivatives products to different parts of the country. As of now BSE derivatives segment has membership of 190 brokers. "We have recently abolished the segment entry fee of Rs 3 lakh and hope to enroll more brokers along with the extension of the BOLT," he added. BSE has also sought the SEBI's permission for certain product differentiation for the derivatives segment.
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