The Calcutta Stock Exchange is exploring options with MCX-SX Clearing Corporation to resume trading on C-star platform, after deciding not to proceed further with BSE-promoted Indian Clearing Corporation Ltd (ICCL) on the matter, sources said.
Due to some hurdles in implementation of the agreement with ICCL after Securities and Exchange Board of India (Sebi) sought some more clarifications to offer its nod, both the bourses could not come to a common ground and hence the CSE decided not to proceed further, they added.
"Instead, we are looking for options to work with MCX-SX Clearing Corporation Limited so that we can resume trading on C-star," sources told PTI said.
In a last ditch attempt to seal an arrangement for settlement with ICCL, CSE officials had also met Securities and Exchange Board of India (Sebi) chairman U K Sinha recently.
CSE's own trading platform C-star is suspended since April, 2013 after the regulator sought compliance on clearing house for settlement of trades of the bourse.
The local bourse had earlier said it was ready with infrastructure to carry out the settlement with ICCL but SEBI had not approved the tie-up.
However, CSE continues to offer NSE and BSE trading platforms to its members.
