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July 18, 2001
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Money > Business Headlines > Report July 18, 2001 |
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CSE in derivatives talks with NSE, BSEBS Bureau In an attempt to introduce derivatives trading, the Calcutta Stock Exchange has begun discussions with the Bombay Stock Exchange and National Stock Exchange to be a member of either of the two bourses. CSE executive director Tapas Datta, who discussed the detailed proposal as well price involved in derivatives membership with representatives of BSE and NSE last week, said the city bourse would finalise the issue shortly. Indicating that CSE might opt for BSE membership, sources said the bourse was in the process of striking the "best possible deal" as far as pricing was concerned. Sources said CSE brokers would have to qualify a test before starting trading in the derivatives segment. The new Sebi norms make it compulsory for brokers willing to trade in the derivatives segment to qualify the test. Lyons' Range sources suggested that CSE brokers were unlikely to take part in the derivatives segment in large numbers even after derivatives trading was introduced on the CSE. The Sebi has categorically mentioned that brokers would not be allowed to take part in derivatives trading without clearing their outstanding turnover tax. The financial condition prevailing at Lyons Range was such that a large section of the local broking fraternity would have to stay outside derivatives trading, at least for the time being, unless the payment norms were relaxed. Powered by YOU MAY ALSO WANT TO READ:
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