KOLKATA, Apr 13: Securities transactions in Calcutta Stock Exchange’s own trading platform C-Star would begin though it was taking time, a top official of the bourse said.
“The trading in C-star will resume and it is just a matter of time,” CSE MD and CEO B Madhav Rao told PTI keeping hopes alive for the over 180-year-old bourse.
“SEBI is expected to come out with modified clearing corporations regulations in which the ‘unlimited liability’ issue is likely to be addressed,” he said.
The major hurdle for the local bourse was a clause that sought unlimited liability for the clearing corporations for any of its clients taking its service.
CSE had signed an agreement with BSE-promoted Indian Clearing Corporation Ltd, but market regulator SEBI later declined to offer unlimited liability for clearing activities for the only active regional bourse in the country.
Rao said, “Everything is in place, infrastructure and other conditions continue as a bourse. Once the unlimited liability matter is resolved trading can begin once again.”
Trading at C-star was suspended since April, 2013.
He said positive response had been received from MCX-SX promoted clearing house for offering its service to CSE.
CSE, however, continued to offer NSE and BSE trading platforms to its members. (PTI)
Trending Now
E-Paper
Follow our WhatsApp channel