CSE expects full trading by New Year

Full fledged trading at the Calcutta Stock Exchange would start by the new year eve as currently software validation and re-run procedure is underway.

Our source at the exchange informed that currently only symbolic trading is going on and everything being done is on an experimental basis.

"At the moment there are about 60 members, who are trading in small volumes, and it will take another month or so to complete the installation process, " said a top official at the exchange.

Although the sources declined to make any comment on the present volume of trade but they accepted it to be low at the moment.

"All the things are at the initial level and once the things are properly in place, volume would not be a problem for CSE," they added.

Once all the customisation procedure is completed, the exchange is expecting a daily trading volume in excess of Rs 50 crore with more than 250 members participating.

"Apart from this there are some members who would start the account at the exchange only from the new financial year, so the participation would increase by leaps and bounds from April 2008," our sources at the exchange said.

The exchange initiated the Mahurat trading during this Diwali and would be introducing "Depository Services" for its members and clients, and that too at cheaper rate, so that they need not go to any other institutions or private brokers for the depository requirements.

The burse also announced that to trade in BSE platform along with the CSE, a member needs to deposit Rs 12.5 lakh (Rs 2.5 lakh for BSE platform) as security.