New Delhi, June 15: Regional bourses are in favour of consolidation to form 'Indonext Exchange' having a common trading platform and settlement system, either with the Inter-connected Stock Exchange or BSE, and a final decision is expected to be taken by July 26. The basic framework of a consolidated exchange on the lines of Euronext model was discussed in detail in a meeting convened by Federation of Indian Stock Exchanges (FISE) and attended by officials of Sebi and 16 stock exchanges including BSE and OTCEI, in Mumbai on Saturday evening.

"We got positive response on Indonext from regional bourses. BSE has presented its views in details," FISE president, Vijay Bhushan, said from Mumbai.
The regional exchanges will now study the additional features proposed by BSE within the next 7-10 days and give their feedbacks.
"We will meet again on July 26 to take a final view on whether to adopt the BSE online trading platform 'BOLT' or that of ISE," Bhushan said without giving further details.

Some of the contentious issues that were raised by smaller bourses are that BSE should allow trade in shares of companies having paid-up capital up to Rs 20 crore in Indonext, which would give a critical mass with an aggregate trading in over 5,000 companies. Bureau Report