The members of the Bombay Stock Exchange (BSE) have expressed concerns over the slippage in trading turnover and shrinking market share at the bourse even as some of its board directors sought brokers co-operation to raise volumes in the derivatives segment.
Lately, BSE's market share in the derivative segment has dwindled drastically, broking members said at BSE's annual general meeting.
BSE board member Deena Mehta said, "The share of the BSE in the cash market has come down from 48 per cent a year ago to 30 per cent and it faced threat of it going down further to 10 per cent in a short span."
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On the issue of demutualisation and corporatisation of the exchange, another BSE board member Himanshu Kaji said that the board-appointed panel would formulate a road map to prepare the bourse for transition.
Meanwhile, in light of the Securities and Exchange Board of India's (Sebi's) plan to corporatise the stock exchanges in the country, this was likely to be last AGM of the BSE. The BSE governing board has appointed Justice D R Dhanuka as the first non-executive chairman of the bourse. Dhanuka has been a public representative director on the board since January 1999.