Delhi Stock Exchange Limited (DSE), one of India’s premier demutualised regional stock exchanges, has received 110 membership applications from brokers for its deposit based trading memberships. DSE will become operational soon and trading is expected to commence from next month onwards.
Pursuant to its well-formulated revival strategy, DSE’s new deposit based trading membership scheme has received encouraging response from the brokers community in Delhi, Lucknow, Banaras, Moradabad, Amritsar, Chandigarh, Ludhiana, Agra, Jaipur, Kolkata, Ahmedabad, Bhuvneshwar, Indore, Shri Ganganagar, Mumbai and Nanded (Maharashtra) amongst others. It has received an encouraging response from renowned stock broking houses such as Alankit Assignments Limited, Abhipra Capital Limited, Shri Parasram Holdings Pvt. Ltd., Kunwarji Finstock, Globe Securities, Chug Securities, Rajasthan Global Securities, Crimson Financial Services Limited, Smart Equity Brokers Pvt. Ltd. and Master Capital amongst others. Many of these are leading broking houses of NSE and BSE as well as depository participants.
Mr. H. S. Siddhu, Executive Director, DSE, said, “We are very pleased to receive an encouraging and positive response for DSE’s deposit based trading membership scheme. We are expecting that the membership number will cross the 200-figure mark by the launch date because of the enthusiastic responses and the requests for extension of the deadline. We are also getting positive responses from far-flung areas. This is also an indication of the brokers’ confidence in our exchange and we are confident of making it a success.”
The membership, which offers trading rights, is being offered against non-refundable deposit of Rs. 5 lakh and one-time admission fee of Rs. 1 lakh. DSE is also implementing amnesty scheme to revive trading in inactive stocks and encourage compliance among companies. According to the scheme, existing companies would have to comply with the exchange requirements only for two years and a concession up to 50% is being offered on listing fees. New companies will not be charged initial listing and processing fees. Out of the 2,800 listed companies, 300 have so far complied with the amnesty scheme.
About Delhi Stock Exchange (DSE): DSE was incorporated in 1947 as a limited company under the Indian Companies Act, 1913. DSE was granted recognition under section 4 of the Securities Contract (Regulation) Act, 1957 The Central Government vide its Notification dated 1st March, 1982 granted permanent recognition to DSE. Located in Delhi, DSE is the second largest exchange in India in terms of number of scrips listed with 2833 companies. Among these, there are 1800 companies which have been exclusively listed with DSE. As per SEBI guideline, DSE successfully completed its demutualization process on 28th August, 2007. The board of directors of DSE comprise of 16 members out of which seven are shareholder director, four are trading member directors, four public interest directors and one executive director. DSE is establishing a new Online Trading Platform namely Delhi Online Trading System (DOTS-08) for cash, derivatives and debt segments with state-of-art technology which has been constructed in association with Financial Technologies (India) Limited (FTIL) equipped with Exchange Technology Framework Product Suite (ETFPS), a software suitable for promotion and successful operation of the Exchange.link
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