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Is CSE heading DSE way ?
Kolkata, July 07: Fifteen months after it met with its worst payment crisis in March, 2001 Calcutta Stock Exchange, Eastern India`s premier bourse, appears to be heading towards an uncertain future, if trading volumes are an indication.
Kolkata, July 07: Fifteen months after it met with its worst payment crisis in March, 2001 Calcutta Stock Exchange, Eastern India's premier bourse, appears to be heading towards an uncertain future, if trading volumes are an indication.
Weeks after another stock exchange, Delhi Stock Exchange members decided not to trade on the their exchange, CSE on Friday recorded the lowest ever trading volume of the past few decades at Rs 18.50 crore. "It is difficult to believe that it is the same exchange, that used to record an average trading volume of about Rs 1600 crore hardly 15 months back," a senior member broker said. Unless the state and Central government takes serious steps, this over 90 year old exchange might soon become history, others fear. A former president of CSE said that the situation was partly because of lack of vision of past officials in the committee, while market watchdog, SEBI, and 'our own members' were responsible too.
He said, the decline in volume was also due to the fact that a majority of sound and big CSE brokers had taken terminals of NSE or BSE and were no longer interested in trading on CSE.
It was not that these brokers had become defunct as over 25 per cent of the total turnover generated at NSE even now was on account of Kolkata brokers.
So the question arises why their unwillingness to trade on CSE. "There is no depth in CSE. If we want to execute big deals, there is hardly any counter party available," a broker said.
Bureau Report
Weeks after another stock exchange, Delhi Stock Exchange members decided not to trade on the their exchange, CSE on Friday recorded the lowest ever trading volume of the past few decades at Rs 18.50 crore. "It is difficult to believe that it is the same exchange, that used to record an average trading volume of about Rs 1600 crore hardly 15 months back," a senior member broker said. Unless the state and Central government takes serious steps, this over 90 year old exchange might soon become history, others fear. A former president of CSE said that the situation was partly because of lack of vision of past officials in the committee, while market watchdog, SEBI, and 'our own members' were responsible too.
He said, the decline in volume was also due to the fact that a majority of sound and big CSE brokers had taken terminals of NSE or BSE and were no longer interested in trading on CSE.
It was not that these brokers had become defunct as over 25 per cent of the total turnover generated at NSE even now was on account of Kolkata brokers.
So the question arises why their unwillingness to trade on CSE. "There is no depth in CSE. If we want to execute big deals, there is hardly any counter party available," a broker said.
Bureau Report