The Hindu Business Line : Bourses to form Indonext exchange

In an effort to impart liquidity in small and medium cap stocks listed on various regional stock exchanges (RSEs), Bombay Stock Exchange and Federation of Indian Stock Exchanges (FISE) have proposed formation of a national market called `Indonext'

In terms of this proposal, shares of companies with paid-up capital up to Rs 20 crore listed and traded on BSE and various participating regional exchanges would be traded in a national market through single order book on the BOLT system of BSE.

BSE and regional exchange members would be able to participate in trading in this market, operations of which would be managed by BSE.

BSE and the exchanges federation in a joint statement on Monday said they would be submitting a detailed proposal to SEBI in this regard. They said this as a major initiative, which would generate liquidity in shares of small and medium cap companies. This would help the investors, companies and the network of about 7,000 members of regional exchanges. This also marks a beginning of stronger ties between BSE and regional exchanges, for the growth of capital markets in the country, the statement added.

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