Pune Stock Exchange (PSE) was
established on 2nd September, 1982 with only 35 members. It is a company
limited by guarantee. Initially, the exchange had only a few lakh rupees
business but now it is having Rs.15-20 crores of business daily with a
members strength extended to 185. More than 310 companies are listed
with Pune Stock Exchange.
Based on VECTOR (Versatile Engine for Centraliseed Trading and On-line
Reporting), the exchange is successfully using a screen based Trading
System. At present it covers, 183 broker members and 9 workstations for
the administration, Market Operations and Surveillance activities of the
exchange.
Pune Stock Exchange is looking for the possibilities of widening its
activities to several parts of Pune city and other cities like Satara,
Sangli, Solapur, Kolhapur, Ahmednagar, Aurangabad, Nasik and Mumbai.
Pune Stock Exchange Trading Activities
The first trading of the
exchange was conducted on 30th of October 1982 with 22 listed scripts.
Then, the trading only allowed trading in the securities listed on it
and other stock exchanges under "Permanent Securities." The
turnover increases substantially due to this.
The trading was switched over to computerised system on 15th March
1996. Pune Stock Exchange was the first regional stock exchange which
implemented the online trading system. The online trading system was
known as Vector System.
The system enables the broker conducting the trading from their
offices, without assembling in the trading ring. The computers in the
brokers offices are connected to the main computer of the exchange
through Local Area Network. The orders are compiled in the main system
during the trading hours and are matched by the computers. The best bid
is matched with the best order. When the trade is matched, it is
instantly informed to the members, which are seen on his computer
screen.
Pune Stock Exchange Turnover
The turnover of the exchange from
1990-91 to 1997-98 are given below:
Pune Stock Exchange Council of Management
The Council of
Management of the exchange consists of 13 members. They are as follows:
- 6 members out of which 1/3rd of the broker members are retired
by rotation each year and the vacancies are filled in at the AGM.
- 3 members are appointed as "Public Representative" by
SEBI. They are appointed on the basis of recommendations from the
exchange. The tenure of the member is till another person is
appointed.
- 3 members are appointed by SEBI whose tenure is at the
discretion of SEBI and are not liable to retire by rotation.
- 1 Executive Director whose appointment is approved by SEBI.
The office bearers are appointed from the 6 elected council members
at the first council meeting which is held within 10 days from the date
of Annual General Meeting.
The tenure of office bearers are as follows:
- President - Maximum 2 consecutive terms.
- Vice-President - Maximum 2 consecutive terms.
- Treasurer - Normally for one year.
Pune Stock Exchange Committee
PSE maintains the following
committees:
- Disciplinary Committee
- Arbitration Committee
- Defaults Committee
- Investment Work Group
- Investors Protection Fund
- Ethics Committee
- Delisting Committee
- Investors Services Committee
- Audit Committee
- Software & I.T. Committee
- Membership Selection Committee
Pune Stock Exchange Regd. Office
Shivleela Chambers
First Floor,752 Sadashiv Peth,
R.B.Kumathekar Marg
Pune - 411030
India
Tel.: +(91)-(212)-24461228 (D), 24485701/02/03 (B)
E-mail: e-mail@vsnl.net
