National Stock Exchange of India
From Wikipedia, the free encyclopedia
The National Stock Exchange of India (NSE), is one of the largest and most advanced stock markets in India. The NSE is the world's third largest stock exchange in terms of transactions. It is located in Mumbai, the financial capital of India. The NSE VSAT terminals, 2799 in total (31st December 2005), cover 320 cities in India [1].
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[edit] Origins
The National Stock Exchange of India was promoted by leading Financial institutions at the behest of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives
[edit] Innovations
NSE has remained in the forefront of modernization of India's capital and financial markets, and its pioneering efforts include:
- Being the first national, anonymous, electronic limit order book (LOB) exchange to trade securities in India. Since the success of the NSE, existent market and new market structures have followed the "NSE" model.
- Setting up the first clearing corporation "National Securities Clearing Corporation Ltd." in India. NSCCL was a landmark in providing novation on all spot equity market (and later, derivatives market) trades in India.
- Co-promoting and setting up of National Securities Depository Limited, first depository in India[2].
- Setting up of S&P CNX Nifty.
- NSE pioneered commencement of Internet Trading in February 2000, which led to the wide popularization of the NSE in the broker community.
- Being the first exchange that, in 1996, proposed exchange traded derivatives, particularly on an equity index, in India. After four years of policy and regulatory debate and formulation, the NSE was permitted to start trading equity derivatives three days after the BSE.
- Being the first exchange to trade ETFs (exchange traded funds) in India.
[edit] Markets
Currently, NSE has the following major segments of the capital market:
- Equity
- Futures and Options
- Retail Debt Market
- Wholesale Debt Market
[edit] Indices
NSE also set up as index services firm known as India Index Services & Products Limited (IISL) and has launched several stock indices, including:
- S&P CNX Nifty
- CNX Nifty Junior
- CNX 100 (= S&P CNX Nifty + CNX Nifty Junior)
- S&P CNX 500 (= CNX 100 + 400 major players across 72 industries)
- CNX Midcap (introduced on 18 July 2005 replacing CNX Midcap 200)
Source - http://www.nse-india.com/content/indices/ind_majorindices.htm
[edit] Certifications
NSE also conducts online examination and awards certification, under its programmes of NSE's Certification in Finanacial Markets (NCFM)[3]. Currently, certifications are available in 9 modules, covering different sectors of financial and capital markets. Branches of the NSE are located throughout India.
- See also: Bombay Stock Exchange
