Nse & Bse

NSE & BSEBy Ankit Chauhan

NSE

Board of Directors

•Mr. Ravi Narain National Stock Exchange of India LimitedManaging Director•Ms. Chitra Ramkrishna National Stock Exchange of India LimitedJoint Managing Director

[Shareholder Director ]

Type Stock Exchange Location Mumbai, India Founded 1992 Owner National Stock Exchange of India

Limited

Currency INR No. of listings More than 2000Website www.nse-india.com

INTRODUCTIONThe national stock exchange of India was promoted

by leading financial institution at the order of government of India and was incorporated in November 1992 as a tax paying company.

In April 1993,it was recognized as a stock exchange under the securities contract(Regulation) Act, 1956…NSE commenced operation in June 1994

The capital market segment of the NSE commenced operation in November 1994 ,while operation in the derivatives segment in June 2000

PURPOSE•Establishing a National wide trading facility for all

type of securities.•Ensuring equal access to investor all over the country

through an appropriate communication network.•Providing for a Fair, efficient and transparent

securities market using electronic Trading system.•Enabling shorter Settlement cycles.•Meeting up with international benchmark and

standard

Trading schedule

• Trading takes place on all days of the week except Saturdays & Sundays. The market timings are as follows:

(1) Pre-open session (Regular)Order entry & modification Open: 09:00 hrsOrder entry & modification Close: 09:08 hrs*

• *with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

(2) Pre-open Session for IPO and Relist SecuritiesOrder entry & modification Open: 09:00 hrsOrder entry & modification Close: 09:45 hrs*

• *with random closure in last one minute. Pre-open order matching starts immediately after close of pre-open order entry.

(3) Regular trading sessionNormal Market Open: 09:15 hrsNormal Market Close: 15:30 hrs

•Block deal session is held between 09:15 hrs and 09:50 hrs.

(4) The Closing Session is held between 15.40 hrs and 16.00 hrs.

•The Exchange may also extend, advance or reduce trading hours when its deems fit and necessary.

ADVANTAGES WIDER ACCESSIBILITYSCREEN BASED TRADINGNON-DISCLOSURE OF THE TRADING MEMBERS

IDENTITYTRANSPARENT TRANSACTIONMATCHING OF ORDERSTRADING IN DEMATERIALISED FORM

ROLE

•Raising capital for businesses•Mobilizing savings for investment•Facilitating company growth•Profit sharing•Corporate governance• indicator of the economy

Mile Stones

•November 1992 Incorporation•April 1993 Recognition as a stock exchange•October 1995 Became largest stock exchange in the

country•April 1996 Launch of S&P CNX Nifty•November 1997 Best IT Usage award by Computer

Society of India.•May 1998 Launch of NSE's Web-site: www.nse.co.in

•February 2000 Commencement of Internet Trading• June 2000 Commencement of Derivatives Trading

(Index Futures)• January 2002 Launch of Exchange Traded Funds

(ETFs)• June 2007 NSE launches derivatives on Nifty Junior &

CNX 100.• August 2008 Launch of Currency Derivatives• November 2009 Launch of Mutual Fund Service

System• February 2010 Launch of Currency Futures on

additional currency pairs

IndicesNSE has launched several stock indices, including:• S&P CNX Nifty(Standard & Poor's CRISIL NSE

Index)• CNX Nifty Junior• CNX 100 (= S&P CNX Nifty + CNX Nifty Junior)• S&P CNX 500 (= CNX 100 + 400 major players

across 72 industries)• CNX Midcap (introduced on 18 July 2005 replacing

CNX Midcap 200)

MarketsCurrently, NSE has the following major segments of the capital market:• Equity• Futures and Options• Retail Debt Market• Wholesale Debt Market• Currency futures• MUTUAL FUND• STOCKS LENDING & BORROWING

Eligibility Criteria for Listing

IPOs by Companies

1. The paid up equity capital of the applicant shall not be less than Rs. 10 crores and the capitalisation of the applicant’s equity shall not be less than Rs. 25 crores

2. The Issuer shall have adhered to conditions precedent to listing as emerging from inter-aliance from Securities Contracts (Regulations) Act 1956, Companies Act 1956, Securities and Exchange Board of India Act 1992.

3. At least three years track record.

Certifications•NSE also conducts online examination and awards certification, under its programmes of NSE's Certification in Financial Markets (NCFM). Currently, certifications are available in 19 modules, covering different sectors of financial and capital markets. Branches of the NSE are located throughout India.

BSE

Board of Directors

• Non-Executive Chairman : Mr. S. RamadoraiPublic Interest DirectorVice Chairman Tata Consultancy Services Ltd 

About

•Original named as “The Native Share & Stock Brokers Association”

•Established : 1875 •Location : mumbai•work on bid-ask quote• In 1995 its fully computerized system (screen-based

system)• In 1996 SEBI permitted BSE to extend its BOLT

network outside of mumbai.

• About 5,092 listed companies•  total market capitalization of around 59 trillion

Rupees• currently ranking around number four in terms of

annual transactions.• SENSEX is major index of BSE • SENSEX comprise 30 scripts from different sectors.• Other important indices originating from the Bombay

exchange include the BSE 100, BSE 500, BSEPSU, BSEMIDCAP, BSESMLCAP, and BSEBANKEX.

BSE Hours of Operation

•Beginning of the Day Session: 8:00 - 9:00•Login Session: 9:00 - 9:15•Trading Session: 9:15 - 15:30•Position Transfer Session: 15:30 - 15:50•Closing Session: 15:50 - 16:05•Option Exercise Session: 16:05 - 16:35•Margin Session: 16:35 - 16:50•Query Session: 16:50 - 17:35•End of Day Session:17:35 

Various stock exchange in india

• Bombay Stock Exchange (BSE)• National Stock Exchange of India (NSE)• Indian Commodity Exchange (ICEX)• United Stock Exchange of India (USE)• Multi Commodity Exchange (MCX)• Over the Counter Exchange of India (OTCEI)• Inter-connected Stock Exchange of India (ISE)• Madras Stock Exchange (MSE)• Ahmedabad Stock Exchange (ASE)• Bhubaneshwar Stock Exchange (BhSE)

• Cochin Stock Exchange (CSE)• Hyderabad Stock Exchange (HSE)• Calcutta Stock Exchange (CSE)• Delhi Stock Exchange (DSE)• Bangalore Stock Exchange• Madhya Pradesh Stock Exchange, Indore• Jaipur Stock Exchange (JSE)• Magadh Stock Exchange, Patna• UP Stock Exchange (UPSE)• Vadodara Stock Exchange,Vadodara (VSE)

By ANKIT CHAUHANMBA sem-III(ITM, vadodara)