A stock exchange is a platform where financial instruments like stocks and derivatives are traded. Market participants have to be registered with the stock exchange and SEBI to conduct trades. This includes companies issuing shares, brokers conducting the trades, as well as traders and investors
Here is a list of the biggest stock exchanges in India:
NATIONAL STOCK EXCHANGE (NSE)
NSE is considered as the youngest and biggest stock exchange in India and the second largest in the world by number of trades in equity shares from January to June 2018, according to World Federation of Exchanges (WFE) report. It is currently located in Mumbai, Maharashtra. It has a fully-integrated business model comprising of exchange listings, trading services, clearing and settlement services, indices, market data feeds, technology solutions and financial education offerings. Incorporated in 1992, the NSE has developed into a sophisticated, electronic market, which has also ranked fourth in the world in terms of it’s equity trading volume.
BOMBAY STOCK EXCHANGE (BSE)
The Bombay Stock Exchange (BSE) is the oldest stock exchange in India as well as Asia. It is an integral component of the “$1 trillion” (1 lakh crore) club, having the 11th largest market capitalisation value at $2.2 trillion. As of today it is the largest securities market in India and was established in 1875 as the Native Share and Stock Brokers’ Association. BSE was founded by Premchand Roychand in 1875 and is currently managed by Sethurathnam Ravi, serving as the chairman. Based in Mumbai, India, the BSE lists close to 6,000 companies and is one of the largest exchanges in the world, along with the New York Stock Exchange (NYSE), Nasdaq, London Stock Exchange Group, Japan Exchange Group, and Shanghai Stock Exchange.
CALCUTTA STOCK EXCHANGE (CSE)
The Calcutta Stock Exchange is the second oldest and largest stock exchange in South Asia. It is said that stockbrokers convened by a neem tree on a location which now holds the offices of the Standard Chartered Bank in Calcutta. The exchange began in 1908 as the Calcutta Stock Exchange Association with the trading of securities in the East India Company. At the time, it had 150 members. In 1980, the exchange was permanently recognized by India’s government. The CSE has since grown to more than 900 members and over 3,500 listed companies. In 2012, the Securities and Exchange Board of India (SEBI) declared strict regulations for regional stock exchanges (RSEs), which triggered the voluntary exit of nearly 20 exchanges. The CSE experienced a halt in trading on C-STAR in 2013. It has struggled to maintain its existence in the face of stringent regulations, however, it considers itself a professionally run stock exchange that enables members to trade on the BSE and NSE exchange.
METROPOLITAN STOCK EXCHANGE (MSE)
The Metropolitan Stock Exchange is one of India’s nine stock exchanges recognised by the Securities and Exchange Board of India. MSE offers a hi-tech platform to trade in the capital market, futures & options, currency derivatives, and debt market segments of the Indian market. It was recognized by SEBI on 16th September 2008 and was valid till 15th September 2019. Shareholders of MSE include Indian public sector banks, private sector banks, investors and domestic financial institutions which are subjected to CAG Audit. Some of these shareholders are State Bank of India, Union Bank of India, UCO Bank, Canara Bank, Punjab National Bank, Indian Overseas Bank, Indian Bank and Bank of India. In recent news, MSE gets a nod to launch weekly IRFS.
INDIA INTERNATIONAL EXCHANGE (INDIA INX)
The India International Exchange Limited (India INX) is India’s first international stock exchange. It is the world’s fastest exchange, with a turn-around time of 4 microseconds, operating 22 hours a day, six days a week. It is located at the International Financial Services Centre (IFSC), GIFT Cityin Gujarat and BSE Limited is actually the parent organization of India INX. timings facilitate international investors and Non-Resident Indians to trade from anywhere across the globe at their preferred timings.The Daily Volume traded is US $1.5 Billion or ₹10,000 Crores. INX was inaugurated by Indian Prime Minister Narendra Modi on 9 January 2017. The trading operations began on 16 January 2017 and currently operates on EUREX T7, an advanced technology platform. Asian Development Bank listing the bonds on India International Exchange. ADB recently raises $118 million from rupee-linked bonds and supporting the development of financial market infrastructure in India.
NSE IFSC LTD
NSE IFSC Limited (NSE International Exchange) incorporated on 29th November 2016, is a wholly owned subsidiary of the National Stock Exchange (NSE) and is located at the International Financial Services Centre (IFSC), GIFT City in Gujarat. NSE IFSC Limited has been launched to grow the financial market as well as expected to bring capital into India. It is permitted to offer trading in securities in any currency other than the Indian rupee. NSE IFSC Limited conducts 16 hours of daily trading, which it intends to gradually expand in line with market feedback. Currently, there are two trading sessions, the first between 8 am and 5 pm and the second between 5.30 pm and 11.30 pm.
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