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The Hindu
The Hindu
National
Suchitra Karthikeyan

Why was the Calcutta Stock Exchange closed? | Explained

CSE NSE SEBI Exchange Calcutta BSE India the Calcutta High Court Kolkata

The story so far: Trading has ceased completely in one of India’s oldest stock exchanges, the Calcutta Stock Exchange (CSE), on November 28, after the National Stock Exchange (NSE) terminated its contract with the bourse. On November 20, the stock exchange issued a notice to all members asking them to square off open positions in the NSE derivative segment.

The notice was issued after the Calcutta High Court vacated its interim stay on NSE’s decision to terminate its contract with the CSE. The bourse had challenged NSE’s decision claiming that its move would cripple the stock exchange’s operations completely. It also sought time from both SEBI and the NSE to comply to all regulations for extending the contract.

CSE was barred from trading on its platform by SEBI in April 2013 due to regulatory and compliance issues. Since then, CSE’s only function is to provide its members a platform to trade on the NSE. As of date, CSE has 1842 listed companies and 400 registered trading members.

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