The Calcutta Stock Exchange (CSE) is awaiting market regulator Sebi's approval to join the BSE promoted clearing corporation that would facilitate the resumption of credit in C-Star, the fully computerised on-line trading system.
"I am going to meet Sebi chairman on December 4 to take up the matter for early resolution," CSE chairman Dipankar Chatterji told PTI.
"We have complied with all regulations, yet we are unable to get the Sebi approval for joining Indian Clearing Corporation Ltd (ICCL)," he said. The Sebi had directed CSE not to continue with the clearing and settlement activities of trades executed on C-Star through its clearing house beyond April 5, 2013, till the bourse establishes a clearing corporation in compliance with the provisions of SECC regulations or ties up with another clearing corporation.
CSE had tied up with BSE's ICCL to carry out settlement dues to high capital requirements but Sebi is yet to approve it.
