Sebi asks BSE to act to regain mkt share

Favouring existence of at least two strong stock exchanges, the Securities and Sebi on Wednesday asked BSE to face upcoming challenges and i...

Favouring existence of at least two strong stock exchanges, the Securities and Sebi on Wednesday asked BSE to face upcoming challenges and improve strength to gear up for tough competition.

‘‘The information security management system standard certificate is expected to strengthen the comptitive edge. This aspect is more relavant to bse in current times,’’ Sebi Chairman M. Damodaran said addressing a function at BSE to handover certificate for bourse’s online trading system here.

BSE would have to face a major challenge of trust in days ahead. It was not enough to be secure but getting seen to be secure was equally crucial, he added.

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Referring to competition in the capital market among the stock exchanges, Sebi chief said in the last few years other exchange (NSE) has managed to garner higher market share than BSE.

The efforts should be to gain identity as ‘‘the stock exhange’’ and not just BSE, he said, adding there should be at least two strong entities (bourses) in the market place.

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