Brokers at the Uttar Pradesh Stock Exchange (UPSE) have decided to take the initiative in tackling problems like a falling turnover, high costs and the perceived hostility of the Securities and Exchange Board of India (Sebi).
As a first step, it wants to establish a common trading platform in collaboration with the stock exchanges of Kolkata, Delhi, Jaipur, Ludhiana and Ahmedabad.
The brokers said this common platform, based on the Japanese pattern, could match the trading volumes of the National Stock Exchange and the Bombay Stock Exchange.
UPSE administrator MN Sabherwal told Business Standard that the state administration was also interested in this move.
UPSE brokers feel they should take the initiative as they still have a comparatively sizeable turnover. The UPSE
