Cochin Stock Exchange
Cochin Stock Exchange (CSE or CoSE) was a stock exchange in Kochi, Kerala in India. Incorporated in 1978,[1] it had over 350[2] Indian companies listed at its peak, and during the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of ₹70–₹100 crore (equivalent to ₹506 crore or US$75 million in 2020). The exchange stopped trading in 2005, and was in the final stages of closure by May 2014.[3]
Cochin Stock Brokers, which provides trading facilities on the Bombay Stock Exchange, and CSE Institute, an educational organisation, continue to operate beyond the closure of the exchange.
Contents
History
Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL is Multex. Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections.[4] DP holdings are maintained by demat services like CDSL.
The new millennium saw the stock exchange building being shifted from the old structure in downtown Cochin to a brand new building in the Kaloor area in northern Kochi.
Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.[5]
The securities scam of the early nineties led the Securities and Exchange Board of India (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.[6]
The stock exchange was closed after the SEBI introduced a minimum net worth requirement of ₹100 crore (equivalent to ₹144 crore or US$21 million in 2020) and a turnover of ₹1,000 crore (equivalent to ₹14 billion or US$210 million in 2020) for stock exchanges to continue operation.
Economic impact
Industrialisation did not happen in Kerala to the extent as in other Indian states. As a result, most Keralites do not invest in manufacturing entities. The reasons for the failure to attract manufacturing industries is unclear, but it has be due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange is therefore an excellent channel for investment opportunities in the face of local problems.[7]
Related organisations
Cochin Stock Brokers Limited (CSBL) previously a wholly owned subsidiary of Cochin Stock Exchange Limited, is a corporate member of the National Stock Exchange of India and the Bombay Stock Exchange, enabling CSBL users to have trading facilities in these listings.[8]
CSE Institute is an organisation that provides stock market training for investors.
See also
References
- ↑ http://www.cochinstockexchange.com/CSE/profile.html
- ↑ http://www.cochinstockexchange.com/rates/closert.txt
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ http://www.cochinstockexchange.com/CSE/departments/systemsdep.html
- ↑ http://www.cochinstockexchange.com/CSE/membership.html
- ↑ http://www.cochinstockexchange.com/cse/interpre.pdf
- ↑ Lua error in package.lua at line 80: module 'strict' not found.
- ↑ http://www.cochinstockexchange.com/CSBL/ABOUT_CSBL.HTML
