Cochin Stock Exchange (CSE or CoSE) was an Indian stock exchange in
Kochi
Kochi (), also known as Cochin ( ) ( the official name until 1996) is a major port city on the Malabar Coast of India bordering the Laccadive Sea, which is a part of the Arabian Sea. It is part of the district of Ernakulam in the state of K ...
,
Kerala
Kerala ( ; ) is a state on the Malabar Coast of India. It was formed on 1 November 1956, following the passage of the States Reorganisation Act, by combining Malayalam-speaking regions of the erstwhile regions of Cochin, Malabar, South ...
fully owned by
Government of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...
. It was incorporated in 1978. At its peak, it had almost 500 Indian companies listed, and with a daily turnover of 70–, it was the fourth largest exchange in India.
Cochin Stock Brokers, which provides trading facilities on the
Bombay Stock Exchange
BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...
, and
CSE Institute, an educational organisation, continue to operate beyond the closure of the exchange.
History
Cochin Stock Exchange was established in 1978.
During the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of 70–, with 476 Indian companies listed.
Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL was
Multex, developed by
CMC. Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections. DP holdings are maintained by demat services like
CDSL
Central Depository Services (India) Ltd. (CDSL), the first listed Indian central securities depository, was founded in 1999.
The main function of CDSL facilitates holding and transacting in securities in the electronic form and facilitates set ...
.
The new millennium saw the stock exchange building being shifted from the old structure to a brand new building in the Kaloor area in northern Kochi.
Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.
The securities scam of the early nineties led the
Securities and Exchange Board of India (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.
The exchange stopped trading in 2005, and closing procedures after the SEBI introduced a minimum net worth requirement of and a turnover of for stock exchanges to continue operation in 2013. It was in the final stages of closure by May 2014.
Economic impact
Industrialisation did not happen in Kerala to the extent as in other Indian states. The reasons for the failure to attract manufacturing industries was due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange served as a channel for investors to find investment opportunities.
Related organisations
Cochin Stock Brokers
Kochi (), also known as Cochin ( ) ( the official name until 1996) is a major port city on the Malabar Coast of India bordering the Laccadive Sea, which is a part of the Arabian Sea. It is part of the district of Ernakulam in the state of Ke ...
Limited (CSBL) previously wholly owned by
Government of India
The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...
, is a corporate member of the
National Stock Exchange of India
National Stock Exchange of India Limited (NSE) is the leading stock exchange under the ownership of various group of domestic and global financial institutions, public and privately owned entities and individuals. It is located in Mumbai, M ...
and the
Bombay Stock Exchange
BSE Limited, also known as the Bombay Stock Exchange (BSE), is an Indian stock exchange. It is located on Dalal Street in Mumbai. Established in 1875 by cotton merchant Premchand Roychand, a Jain businessman, it is the oldest stock exchange i ...
, enabling CSBL users to have trading facilities in these listings.
CSE Institute is an organisation that provides stock market training for investors.
See also
*
List of South Asian stock exchanges
This is a list of Asian stock exchanges.
In the Asian region, there are multiple stock exchanges. As per data from World Federation of Exchanges, below are top 10 selected in 2020:
* Shanghai Stock Exchange, China
* Tokyo Stock Exchange, Japan
...
*
List of stock exchanges in the Commonwealth of Nations
This is a list of active stock exchanges in the Commonwealth of Nations (Full Members). The Commonwealth of Nations features member-states located on all major continents and represents almost one-third of the Earth's population. Some states ha ...
References
External links
Official Site of the Cochin Stock Exchange
{{Kochi (India) topics
Economy of Kochi
Former stock exchanges in India
1978 establishments in Kerala
Financial services companies based in Kochi
Indian companies established in 1978