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| Additional information |
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| Inter-connected Stock Exchange of India Limited |
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Mission statement:
ISE shall endeavor to provide flexible and cost-effective access to multiple markets to its intermediaries across the country using the latest technology. |
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Overview:
Inter-connected Stock Exchange of India Limited (ISE) is a national-level stock exchange, providing trading, clearing, settlement, risk management and surveillance support to its Trading Members. It has 841 Trading Members, who are located in 131 cities spread across 25 states. These intermediaries are administratively supported through the regional offices at Delhi, Kolkata, Patna, Ahmedabad, Coimbatore and Nagpur, besides Mumbai.
ISE aims to address the needs of small companies and retail investors by harnessing the potential of regional markets, so as to transform them into a liquid and vibrant market using state-of-the art technology and networking.
ISE has floated ISE Securities & Services Limited (ISS) as a wholly-owned subsidiary under the policy formulated by the Securities and Exchange Board of India (SEBI) for “Revival of Small Stock Exchanges”. The policy enunciated by SEBI permits a stock exchange to float a subsidiary, which can take up membership of larger stock exchanges, such as the National Stock Exchange of India Limited (NSE), and Bombay Stock Exchange Limited (BSE). ISS has been registered by SEBI as a Trading-cum-Clearing Member in the Capital Market segment and Futures & Options segment of NSE and Capital Market segment of BSE. Trading Members of ISE can access NSE and BSE by registering themselves as Sub-brokers of ISS. Thus, the trading intermediaries of ISS can access other markets in addition to the ISE market. ISS, thus provides the investors in smaller cities, a one-stop solution for cost-effective and efficient trading and settlement services in securities.
Complementing the stock trading function, ISE’s depository participant (DP) services reach out to intermediaries and investors at industry-leading prices. The full suite of DP services are offered using online software, accessible through multiple connectivity modes - leased lines, VSATs and internet. Operation of the demat account by a client requires just a few mouse clicks.
The Research Cell has been established with the objective of carrying out quality research on various facets of the Indian financial system in general and the capital market in particular.
It brings out a monthly newsletter titled “NISE” and a fortnightly publication titled “V share”. The Research Cell plans to expand its activities by publishing a host of value based research publications, covering a number of areas, such as equities, derivatives, bonds, mutual funds, risk management, pension funds, money markets and commodities. The ISE Training Centre conducts class-room training programmes on different subjects related to the capital market, such as equities trading and settlement, derivatives trading, day trading, arbitrage operations, technical analysis, financial planning, compliance requirement, etc. Through these courses, the training centre provides knowledge to stock brokers, sub-brokers, professionals and investors to also appear for the certificate courses conducted by the stock exchanges.
It also aims to make and build the professional careers of MBAs, post graduates and graduates, with a view to enabling them to work effectively in securities trading, risk management, financial management, corporate finance disciplines or function as intermediaries (viz. stock brokers, sub-brokers, merchant bankers, clearing bankers, etc.) |
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History:
July 6, 1996 A report on Inter-connected Market System (ICMS) submitted to the Federation of Indian Stock Exchange (FISE).
October 26, 1996 Steering Committee was constituted by FISE at Hyderabad.
January 4, 1997 Pricewater House Coopers,the management consultancy firm, submitted a feasibility report and recommended the establishment of ICMS.
January 22, 1998 ISE incorporated as a company limited by guarantee.
November 18, 1998 SEBI grants recognition to ISE.
February 26, 1999 Commencement of trading on ISE.
December 31, 1999 Induction of 450 Dealers commences.
January 18, 2000 Incorporation of ISS as a company limited by share capital.
February 24, 2000 SEBI registers ISS for the Capital Market segment of NSE.
May 3, 2000 Commencement of trading by ISS in the Capital Market segment of NSE.
January 10 , 2001 Turnover in the Capital Market segment of NSE crosses Rs. 1000 million per day.
February 28, 2001 Turnover of Rs. 1508.80 million recorded by ISS in the Capital Market segment of NSE.
May 4, 2001 Internet trading for clients started by ISS for the NSE segment through DotEx Plaza.
May 19, 2001 ISE’s website, www.iseindia.com, launched.
February 13, 2002 SEBI registers ISS for the Futures & Options segment of NSE.
May 6, 2002 ISS commences trading in the Futures & Options segment of NSE.
March 12, 2003 ISS admitted as a member of the Equities segment of BSE.
April 1, 2003 DP services through CDSL launched by ISE.
June 21, 2003 First Investor Education Program under the Securities Market Awareness Campaign (SMAC) of SEBI conducted at Vashi.
January 9, 2004 Peak turnover of Rs. 3034.90 million recorded by ISS in the Capital Market segment of NSE.
May 17, 2004 First DP branch office opened at Coimbatore by ISE.
July 17, 2004 First Investor Point opened at the Vashi Railway Station Complex by ISE.
July 24, 2004 Second DP branch opened at New Delhi by ISE.
September 3, 2004 Third DP branch opened at Kolkata by ISE.
December 27, 2004 Trading in the BSE equities segment started by ISS.
September 15, 2005 Approval of ISE’s Corporatisation and Demutualisation Scheme by SEBI.
October 20, 2005 Switchover to Direct Client Dealing commences in ISS.
November 24, 2005 ISE re-registered as a “for profit” company, limited by shares.
November 24, 2005 Board of ISE reconstituted in tune with the Corporatisation and Demutualisation provisions.
July 28, 2007 ISE declared a dividend of 400% to its shareholders for the first time since its incorporation.
September 13, 2007 ISE was notified by SEBI as a “Demutualised Exchange”.
January 30, 2008 Restructuring of Board of ISE in accordance with the Corporatisation and Demutualisation Scheme, 2005.
March 4, 2010 ISE awarded the contract to TCS for reviving its Trading Platform. |
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