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| Deposit-based membership & training institute on the cards |
| BgSE plans new products, alliances |
| Subrahmanyan Viswanath, Bangalore, Nov 3, DH News Service: |
Striking strategic alliances and making the most of Brand Bangalore is the Destination Next for Bangalore Stock Exchange (BgSE), according to its new Executive Director V Ravi Kumar.
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 In an exclusive chat with Deccan Herald, Kumar said BgSE would soon ally with willing partners to offer newer products for retail investors of the bourse. In this regard, he said, BgSE would hold talks with commodity exchanges as also coffee exchange, to provide investors with more options on the bourse.
Kumar said his immediate priority is to bring in the best practices to ensure better transparency and disclosures to help the exchange grow and boost investor confidence.
Amidst felicitations from member brokers and board members, Kumar said he will shortly present a blueprint of future plans for BgSE’s growth and revival before the board. He expects the board to clear the same by the month-end and begin putting it in place thereon. His plans include trading of more products on the exchange, investor education and opening up of more investor centres across the State.
Besides issuing of deposit based membership, for which application has been sent for Sebi’s approval, the bourse also plans to set up a training and educational institute.
Kumar, with over 25 years of experience in managing treasury and forex with stints at SBI, ING Visya, ANZ Grindlays, ABM Amro, ICICI & IDFC, moves on to the role of a regulator as Executive Director of BgSE.
Incidentally, Kumar pipped another capital market veteran Subhasis Bandhyopadhyay and financial services professional Abhinav Chopra for the Sebi-nominated BgSE Executive Director’s position.
Apart from offering certificate courses in capital market studies the bourse would conduct training programmes for aspiring students/investors/brokers intending to take up NCFM on-line tests of National Stock Exchange Ltd.
Further, he said, the bourse was waiting for Sebi to roll out norms for creation of SME exchange to take up the same.
Stating that lately with SMEs and erstwhile private and ownership firms going public, regional exchanges like BgSE saw an ideal role for themselves.
Observing that there was enough room for both the BgSE and its financial subsidiary BgSE Financial Services to co-exist, he said his priority be to hasten the trading platform proposal to infuse more liquidity on the bourse, thereby enhancing business and bring more investors to into the bourse.
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