The Hindu Business Line : BSE platform in Calcutta Stock Exchange at advanced stage

Kolkata, Oct. 3 The Calcutta Stock Exchange has informed members that arrangements for installing the Bombay Stock Exchange trading platform — which will enable them to deal in stocks listed on BSE — are in an advanced stage. The tie-up, it has hoped, should show results shortly.

Transactions in BSE stocks will lead to a shoring up of trading volumes on CSE, considered significant for an exchange that has seen its business reduce to a trickle in recent years.

The association with the larger bourse is, therefore, critical, especially so because of BSE’s decision to come in as one of its strategic shareholders.

BSE is one of the 20-plus entities that have lately taken interest in this matter.

Members meet

The newly appointed Administrator of the Exchange, Mr Sunil Mitra, has meanwhile decided to meet members to apprise them about the status of its demutualisation and divestment programme. He will also update members about the CSE-BSE tie-up.

Mr Mitra is Principal Secretary to the West Bengal Government. He was named Administrator by the securities regulator by its order dated September 21. Mr Mitra has replaced Mr T.K. Das, who was appointed Administrator after the supersession of the CSE committee.

Share issue

CSE, which has recently wrapped up the demutualisation exercise, has issued more than 3.2 lakh equity shares of Re 1 each (at a premium of Rs 1,999 per share) to a select group of entities.

Besides the BSE, the allottees include companies such as Kesoram Industries, Hindustan National Glass, Patton International and Jai Balaji Industries.

Also, West Bengal Infrastructure Development Finance Corporation is included in this list.

Related Stories:
CSE, BSE seek nod for platform sharing
BSE in talks with CSE empowered panel