CSE to start trading afresh on Diwali

Calcutta Stock Exchange (CSE) is going to go live on the BOLT system--which will enable the traders to deal in stocks listed on Bombay Stock Exchange (BSE), on this "Diwali Mahurat".

The trading would commence on that day itself with around 100-200 traders participating.

Sources at the exchange said that although there are some apprehensions regarding the new norms since CSE being a closed exchange, some compliances are there to be completed.

People from both BSE and CSE are on the job to complete the process of installation and response from the traders side are encouraging, claimed a top official of the exchange.

Post installation all the CSE traders would be able to trade on the stocks traded on the BSE platform and all the transactions, deliveries and settlements would be made through CSE.

This is a new system, with everything to be done through the software without any sub-broker involved and hence the time taken for the transaction would be less, commented Somdutta Bose of GM Bose and Co, a leading broking house.

According to him, traders' had taken the development positively and participation would not be a problem.

However he added that there has been some confusion regarding the security deposit that had to paid for the BSE terminal.

"If the deposit is high then it would not be feasible for smaller traders," he added.

In response, a top official at the exchange clarified that for BSE terminal the members would have to pay Rs 2.5 lakh, which would be completely refundable on return of the terminal.

"Members are being informed through separate letters regarding the payment of the security deposits," he added.

The commencement of trading is very critical for CSE in order to increase its trading volume and its furthermore important after the association with the larger bourse which has come in as one of its strategic shareholders.