Metropolitan Stock Exchange of India (MSE), a national level stock exchange recognised by the Securities and Exchange Board of India (SEBI) launched a Member Activation Drive that will provide all infrastructural support to its members, various incentive schemes as well as lowest transaction charges on almost all product contracts.
The exchange introduced a Business Loyalty Program called MY MSE, under which the members need to comply with several businesses and risk mitigating parameters to be eligible for the incentive. Among the incentive schemes, the exchange is reimbursing Clearing Fee paid by its trading members to their Clearing Members, enabling a reduction in transactional cost of brokers.
Every broker getting activated shall be reimbursed User Id activation fee apart from other infrastructural support. The exchange put together a 360 degree revival plan focusing on introducing new products, revamped processes, branding and ease of business for its members. As part of its strategy, it will emphasise on expanding the market by identifying the gaps and not by competing with other exchanges. MSE is currently focusing on enhancing fixed income and currency segments and is currently in talks with MF and AMC to encourage participation without ignoring the equity segment.
"We need to bring back our members to an active trading status. Only then our new product launches and their success shall be possible. We want our members to experience efficiency, ease of operations, newer products, all at low fixed operating cost. This is a stage wise business building plan which MSE wishes to initiate at appropriate time-frames," said Abhijit Chakraborty, COO at MSE.
The exchange had announced a Rights Issue on September 16. The proceeds shall be utilized for further capitalization of its subsidiary Metropolitan Clearing Corporation and fund strategic business interests.
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