Regional stock exchanges are an obsolete business model and they are bound to fail, UK Sinha, Chairman, SEBI, said here on Tuesday.
Speaking at an interactive session organised by the Bharat Chamber of Commerce, the market regulator chief said so far 19 regional stock exchanges have been given an exit option.
On the issue of derecognising the Calcutta Stock Exchange, Sinha said the matter was sub-judice. However, he added that the stock exchange “can survive” if it follows compliance guidelines. Currently, it is looking for “special dispensation” which SEBI cannot allow.