Calcutta Stock Exchange

The Calcutta Stock Exchange (CSE), located at the Lyons Range, Kolkata, India, is a stock exchange under the ownership of Ministry of Finance, Government of India. It is the second oldest stock exchange in Asia. It was founded on 1 December 1863 by sixteen of Calcutta's leading stockbrokers, beginning its work in rented premises at 11 Strand Road.[1] It was reconstituted in its current form in 1908, and is the second largest bourse in India.[2] The Calcutta Stock Exchange has been asked to exit by SEBI, but the matter is sub judice before the Calcutta High Court; thirteen other regional stock exchanges have closed in the last three years under SEBI's exit policy, including the Bangalore Stock Exchange, the Hyderabad Stock Exchange and the Madras Stock Exchange.[3] Since 2013, there has been no trading on the CSE trading platform.[4]

Calcutta Stock Exchange
CSE Logo
TypeStock Exchange
LocationKolkata, India
Founded1 December 1908 (1 December 1908)
OwnerMinistry of Finance, Government of India.
Key peopleDr Bhaskar Banerjee (Chairman)
Sri Subrato Das Managing Director & Chief Executive Officer
CurrencyIndian rupee (₹)
No. of listingsApproximately 2,700
Market cap₹57,750,020,000 (US$720 million) (2019-20)
IndicesCSE 40
Websitewww.cse-india.com

History

In 1830, bourse activities in Kolkata were conducted under a neem tree.[5] The earliest record of dealings in securities in India records trading of the British East India Company’s loan stock. The exchange was founded on 1 December 1863 by sixteen leading stockbrokers, beginning life in rented premises on 11 Strand Road. The premises also had a library, open to the public, which could be accessed after paying an admission fee.[1] In 1908, the stock exchange was reconstituted in its current form, and had 150 members. The present building at the Lyons Range was constructed in 1928. The Calcutta Stock Exchange Ltd was granted permanent recognition by the Government of India with effect from 14 April 1980, under the relevant provisions of the Securities Contracts (Regulation) Act, 1956. The Calcutta Stock Exchange followed the open outcry system for stock trading until 1997, when it was replaced by C-STAR (CSE Screen Based Trading And Reporting), an electronic trading platform.[6]

The Bombay Stock Exchange (BSE) has made a strategic investment in the Calcutta Stock Exchange, acquiring 5% of its shares.[7]

See also

References
  1. "BENGAL". Bombay Gazette. 5 December 1863. Retrieved 5 July 2021.
  2. CSE Factbook Archived 2006-04-19 at the Wayback Machine. Calcutta Stock Exchange Association Ltd.
  3. "Regional stock exchanges' business model obsolete: Sebi". The Indian Express. 17 January 2017. Retrieved 13 May 2017.
  4. "Annual Report 2019-20" (PDF). The Calcutta Stock Exchange Limited. Retrieved 7 September 2021.
  5. "Lights on at Lyons Range - Bombay bourse boost for city exchange". The Telegraph. 8 November 2007. Archived from the original on 10 November 2007. Retrieved 27 December 2008.
  6. Pradeep Gooptu; Namrata Achary (2 December 2008). "CSE to focus on smaller companies". Business Standard. Retrieved 27 December 2008.
  7. "BSE buys 5% in Calcutta Stock Exchange". Economic Times. 29 August 2007. Retrieved 27 December 2008.

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