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Calcutta Stock Exchange (CSE) is expecting to resume trading on the bourse soon with a new depository participant, according to a source.
"Mock settlement of trading has begun as the infrastructure with new depository is ready. We are just waiting for a formal nod from the regulator SEBI," a CSE board member told PTI.
Indian Clearing Corporation Ltd - the depository for CSE had applied for approval from SEBI in the last week of June, he said.
Trading at the bourse was closed since April 4 after market regulator SEBI asked it to stop clearing and settlement of trades executed on C-Star unless compliant with the regulator norms.
As in-house clearing house cannot carry out settlement after the SEBI directive, CSE decided to join BSE promoted ICCL for settlement activity and the board under the chairmanship of Dipankar Chatterji had approved of it on April 5.
CSE is the only regional bourse in the country compliant with regulations and is trying to attract small companies of other regional exchanges to get listed in it as a cost effective solution compared to other national exchanges, officials said.
CSE currently offers its member brokers to trade on National Stock Exchange and Bombay Stock Exchange beside C-Star on its own trading platform, which has lost significance compared to the national bourses.
