PSE back at its old place

PUNE, Dec 4: With its wide area network WAN system for brokers in place, the Pune Stock Exchange PSE has shifted from from its present premises at the PMT Building at Deccan Gymkhana to its old office at Shiv Leela Chambers in Sadashiv Peth. There was no trading at the stock exchange today. Trading in the new system will begin from December 6.

Brokers can now directly operate from their own offices instead from the central channel from the stock exchange, thanks to the WAN system. PSE has become the first regional stock exchange in the country to opt for such a system. So far only national stock exchanges such as Delhi operate through such systems. Besides decongesting the functioning of the stock exchange, the shift will also result in tremendous savings in the rent for the PSE. PSE had shifted to Deccan Gymkhana five years ago. The lease has now expired.

The shift to the WAN system was viewed by the PSE officials as a logical step towards improving the functioning of the stock exchange which has active plans of spreading its wings in western Maharashtra. Besides decongesting the brokers from the central location of the stock exchange, this move is also expected to benefit centres of PSE operating outside Pune such as Satara. New centres have been planned in Aurangabad and Kolhapur. Around 60 brokers have already been put onto the WAN network. Another 40 brokers have been provided with cubicles at the Shiv Leela Chambers. A total of 186 brokers of the PSE are expected to benefit from this move.