Calcutta Stock Exchange seeks Sebi nod for trading comeback

The Calcutta Stock Exchange, once the country’s second-biggest bourse by trading volumes, is seeking guidance from market regulator Securities & Exchange board of India (Sebi) on a potential turnaround. It wants to resume equity trades either through the interoperability mode or by setting up a clearing corporation.


Officials at the 118-year-old bourse, which was on the brink of an unprecedented default for failure to settle trades in March 2001, are evaluating various compliance pathways under the regulations laid down by Sebi. They have sought a meeting with the market regulator next week, people aware of the matter said.



West Bengal finance minister Swapan Dasgupta, meanwhile, told ET that the government is awaiting the revival roadmap from the CSE management.


“We are in touch with Sebi and would like to first discuss the compliance yardsticks before finalising a future roadmap,” a senior CSE official said.


If Sebi allows interoperability using clearing operations run by the National Stock Exchange (NSE) or the BSE, it would be easier for the Kolkata-based bourse to resume business, people aware said. Setting up a clearing corporation on its own would take a longer turnaround time.