New kid in town: India's new bourse gains from rival's woes
Article Abstract:
India's National Stock Exchange saw trading volumes soar during a dispute between the dominant Bombay Stock Exchange (BSE) and giant Reliance Industries. Now that spat is resolved, but it drew attention to the BSE's awkward share-transfer system, and raised persistent allegations of broking cartels and unauthorized share certificates. The NSE, which carries 1,243 scrips and features faster settlement and tighter trading controls than its rival, has had higher trading volumes in November than BSE, but liquidity questions remain.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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Market participants hail move on paperless stock trading: investment seen to get boost from plan to require all institutions to use electronic depositary
Article Abstract:
The Securities and Exchange Board of India ordered all institutional investors to use the electronic share depository in settling transactions. Foreign investors hailed the announcement, saying paperless trading would make the transactions in the stock market easier, faster and more transparent. The move is also seen as stimulating more investment inflows. The electronic share depository has been in place since November 1997, but investors were not required to participate or surrender their paper share certificates.
Publication Name: The Asian Wall Street Journal Weekly
Subject: Business, international
ISSN: 0191-0132
Year: 1997
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Paper cuts
Article Abstract:
Overseas investment houses remain eager to participate in India's market but do so gingerly due to problems with pilfering and delays at the Bombay Stock Exchange. In July the exchange converted to screen-based computer trading, but scrip must still physically pass from seller to registrar to buyer, a process that ideally takes two months but frequently stretches to four, or a year. A bill to modernize the system and facilitate scripless trading should go before Parliament this year, says the Finance Ministry.
Publication Name: Far Eastern Economic Review
Subject: Business, international
ISSN: 0014-7591
Year: 1995
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