The lack of investor interest in trading through the brokers of the Pune Stock Exchange (PSE) has compelled several brokers to either close shop or go in for a terminal at the National Stock Exchange.
Since the PSE went online a year back, out of 187 PSE member brokers, till date only 110 brokers have taken up cabins and purchased the hardware for the new screen-based trading. As only a few PSE brokers could afford to go in for a NSE terminal, several brokers say that they have no option but to close down their trading business.
Hardly any investors place their orders through the PSE brokers fearing that they might not get deliveries in the event of the scrip price going up. Brokers failing to pay up for the shares placed for sale by investors is also common on the PSE. All these uncertainties have driven the investors to place their orders through brokers who have a NSE terminal.