ISE plans badla, new dealers

Currently over 50 traders are participating on the ISE out of 197 traders registered with the SEBI. Another 100 applications of traders are expected to be registered shortly.

Meanwhile, the ISE has also sought the permission of the SEBI to start modifiedcarry-forward trading (badla), according M R Mayya, chairman, ISE.

Mayya said once the SEBI approved its proposal, the ISE will start with nearly 15 scrips under carry-forward trading. “Some of the important developmental projects being pursued by the ISE include plans for various other proposals like internet trading, issue of IPOs through the ISE network, corporate databases services and trading facility for open ended schemes of mutual funds. In order to boost its trading volumes, ISE also proposes to extend the trading time from 3.30 pm to 4 pm,” Mayya said.

He said that the number of participating exchanges are expected to increase from 11 to 13 by next month and would cross the 15 level shortly as some of the new exchanges like Calcutta, Ahmedabad and Pune are showing keen interest in participating in the ISE operations.

Mayya further indicated that the future products to be rolled out by the ISE would ensure much greater liquidity and volumes. It has already applied to the SEBI for permissionto commence trading from Mumbai and other metro centres in order to provide trading facilities to the members of the participating exchanges located at these centres. It is expected that more such centres would be identified based on the demanded made by the participating exchanges. It has proposed to expand to 5 to 10 cities near the participating exchanges, he added.