DSE may take more time to resume trading
The Delhi Stock Exchange may take few more months to resume trading activities as the software deployed for the purpose is still being tested.
The exchange has been shut for almost eight years after trade here became nil in 2002 and plans to resume trading by Diwali this year has got delayed. "Currently the software installed here by Financial Technologies is being tested. The date for resumption of trading in the exchange will be decided only after all tests are complete," DSE CEO H S Sidhu told reporters. Infact, another DSE member is of the view that the exchange had shut down eight years ago because of inadequate technological support.
While Financial Technologies will provide trading facilities to investors and brokers associated with the exchange, DSE has signed a 10-year agreement with IBM worth Rs 11 crore. Meanwhile, old members have suggested that the exchange should pay special attention to facilitate the trade of Small and Medium Enterprises' (SMEs') shares. "DSE should have a SME-focused approach," Former DSE Director Ashok Agarwal said. The suggestion comes in the backdrop of Securities and Exchange Board of India's recent announcement of providing a trading platform to the SMEs, in addition to the possibility of creating a SME exchange.
Agarwal added that restarting trade on the DSE is a big positive for the companies enlisted on this exchange as liquidity channels will reopen for them, which will be beneficial for the traders as well. DSE officials estimate Rs 500-crore worth of daily trade in the first six months of its start, which is targeted to reach Rs 1,000 crore a day within a year. At present, the number of listed companies on the DSE is 2,800. Sources say a platform for trading in regional exchanges will also be made available for which the exchange is in talks with bourses of Ludhiana, Indore and Bangalore among others.
