Ahmedabad Stock Exchange
From Wikipedia, the free encyclopedia
Ahmedabad Stock Exchange or ASE is the second oldest exchange of India located in the city of Ahmedabad in the western part of the country. It is recognized by Securities Contract (Regulations) Act, 1956 as permanent stock exchange. It has adopted a Swastika in its logo which is one of the most auspicious symbols of Hinduism depicting wealth and prosperity.
Contents |
[edit] History
The stock exchange was established as a Public Charitable Trust in 1894 following the establishment of the Bombay Stock Exchange in 1875. Initial functioning of the stock exchange was started under a banyan tree. Earlier the stock exchange functioned under the framework of the Bombay Securities Contracts Act, 1925. Following the The Securities Contract Regulations Act, 1956 the Gujarat Share & Stock Exchange, Indian Share and General Exchange Association and Bombay Share and Stock Exchange, Share and Stock Brokers Association merged with the Ahmedabad Share and Stock Brokers Association and gave rise to ASE as it stands today.
[edit] Automation
The stock exchange went live on December 12, 1996. Initially, ASE used a system provided by IBM. Since June 1999, ASE operates on Ahmedabad Stock Exchanges' Online Trading System (ASETS). This system was provided to ASE by Tata Consultancy Services Pvt. Ltd. Members of the ASE can also trade on the Bombay Stock Exchange though a system called IBOSS. Today the stock exchange has 333 trading members.
[edit] Current governing board
The governing board of ASE comprises of elected directors as well as directors appointed by SEBI. The governing board meets every 15 days to review the working of the stock Exchange. The executive director is the administrative head of the ASE.
- P.K.Ghosh - Non-Member Director
- Babubhai P. Patel - Non-Member Director
- Yogesh Doshit - Non-Member Director
- Ashok Chhajed - Non-Member Director
- Vijay Ranchan - Non-Member Director
- Manish Bhatt - Non-Member Director
- N. K. Bhola - Sebi Nominee
- G. H. Dalal - Member Director
- Anil Shah - Member Director
- V. V. Rao - Executive Director
