Magadh Stock Exchange Association Ltd (MSEA) is located in

Patna Patna ( ), historically known as Pataliputra, is the capital and largest city of the state of Bihar in India. According to the United Nations, as of 2018, Patna had a population of 2.35 million, making it the 19th largest city in India. ...

, India. It was established in the year 1986. It is one among the 25 odd regional stock exchanges in India. The exchange was disbanded on 3 September 2007 by

Securities and Exchange Board of India The Securities and Exchange Board of India (SEBI) is the regulatory body for securities and commodity market in India under the ownership of Ministry of Finance within the Government of India. It was established on 12 April 1988 as an executive ...

(SEBI).

History

by 1999-2000, the Magadh Stock Exchange had a total of 199 brokers, out of which 15 were corporate brokers. Among 199 brokers, it was further classified as 183 proprietor brokers, 1 partnership broker and 5 corporate brokers. Then, there were only 2 sub-brokers registered. In September 2005, the Magadh Stock Exchange was corporatised and demutualised in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956. On 17 August 2000, the Magadh Stock Exchange became the only regional stock exchange in the country to trade on 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, Mah ...

(NSE), the Bombay Stock Exchange (BSE),

Calcutta Stock Exchange The Calcutta Stock Exchange (CSE), located at the Lyons Range, Kolkata, India, is a stock exchange under the ownership of Ministry of Finance, Government of India. It is the second oldest stock exchange in Asia. It was founded on 1 December 186 ...

(CSE) and the Interconnected Stock Exchange (ISE) when the exchange finally got connected to the NSE through

ISE Ise may refer to: Places *Ise, Mie, a city in Japan **Ise Grand Shrine, a Shinto shrine located in Ise, Mie *Ise Ekiti, a city in Nigeria *Ise, Norway, a village in Norway *Ise Province, an ancient province of Japan *River Ise, a tributary of the R ...

. SEBI vide order dated September 3, 2007 refused to renew the recognition granted to Magadh Stock Exchange Ltd. On SEBI website, Magadh Stock Exchange shows "valid upto as permanent" but it is clearly mentioned that its renewal has been refused.

References

{{Stock exchanges in India Economy of Bihar Economy of Patna Former stock exchanges in India 1986 establishments in Bihar Indian companies established in 1986 Financial services companies established in 1986 2007 disestablishments in India

History

See also

References