DSE announces slew of measures to attract companies & trading members
Gearing up to resume trading
Tweet-- In order to attract trading members to the Delhi Stock Exchange (DSE), when it re-launches its operation soon, the board has floated several attractive schemes. The board of DSE in a recent meeting has taken many important decisions in their bid to revive the operations of the exchange by August, 2009. DSE has floated an application form “New Deposit Based Trading Membership” to expand the base of the trading members and slashed various fees to attract more companies. The board decided to lower the amount of annual listing fee payable by the listed companies having listed capital of Rs 75 crore or above. As per decision of the board, now the companies have to pay Rs 500 for every increase of listed capital of Rs 1 crore and the maximum amount of annual listing fee payable by the companies will be Rs 1, 50, 000/-.
In another major decision by the board, it has decided to waive off the initial listing fee, annual listing fee for the first financial year and processing fee for the companies listed on some other stock exchange and has opted to list with the DSE. This is a follow up of the Amnesty Scheme which has received encouraging response. As many as 203 companies have already availed it. This scheme is to close on 30th June, 2009.
Speaking on the occasion, Mr H S Sidhu, Executive Director, DSE, said, “DSE wants to revive strongly and is likely to be operational soon. We are doing everything to provide an efficient, transparent, safe and fast trading platform to the financial community. This decision will help us to touch base with the investor and broker’s community and expand the reach of the exchange. The slashed fees will be an additional impetus to those companies who want to list with DSE. We are confident that these steps will further strengthen our faith among the companies and they will come forward to trade in DSE that offers a safe, efficient, economical means to trade.”
The new scheme will expand the network of DSE members. All the eligible players who deal in stock market in India will be able to use the expanded trading members’ network. They can trade in all listed companies in normal or permitted segment. The individual or corporation application can be purchased physically in the DSE house in Delhi or online through their website www.dseindia.org.in. The cost of the application form is Rs 2000/-.
Notes to Editor
About Delhi Stock Exchange (DSE):
DSE was incorporated in 1947 as a limited company under the Indian Companies Act, 1913. DSE was granted recognition under section 4 of the Securities Contract (Regulation) Act, 1957 The Central Government vide its Notification dated 1st March, 1982 granted permanent recognition to DSE. Located in Delhi, DSE is the second largest exchange in India in terms of number of scrips listed with 2833 companies. Among these, there are 1800 companies which have been exclusively listed with DSE. As per SEBI guideline, DSE successfully completed its demutualization process on 28th August, 2007. The board of directors of DSE comprise of 16 members out of which seven are shareholder director, four are trading member directors, four public interest directors and one executive director. DSE is establishing a new Online Trading Platform namely Delhi Online Trading System (DOTS-08) for cash, derivatives and debt segments with state-of-art technology which has been constructed in association with Financial Technologies (India) Limited (FTIL) equipped with Exchange Technology Framework Product Suite (ETFPS), a software suitable for promotion and successful operation of the Exchange.