Madras Stock Exchange
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The Madras Stock Exchange is a stock exchange in Chennai, India (formerly Madras). The Madras Stock Exchange (MSE) is the fourth Stock Exchange to be established in the country, and the first in South India. It had a turnover (2001) of Rs 109 crores (25 million USD), but is a fraction (below 0.1%) of the turnover generated by the Bombay Stock Exchange and National Stock Exchange of India.
In 1996, the MSE was fully computerised and online trading became operational, as the MSE was connected to 120 broking offices in and around Chennai through Wide Area Networking.
The MSE has about 120 live members and 1,785 companies listed. The exchange follows the Rolling Settlement system, as per the January 2000 SEBI (Securities Exchange Board of India) Guidelines and a proactive Grievance Cell is operational. By this system, investors can log in their complaints, for which a number will be given for further reference, through which investors can keep track of the action taken by the exchange as regards their complaint.
A subsidiary company - MSE Financial Services Ltd, has been established. A member of the Bombay Stock Exchange, MSE Financial Services will help create greater broker and investor flexibility through multi-market access. Hereafter the members will be able to trade in both BSE and MSE. This will be followed up with National Stock Exchange (NSE) membership.
Live trading at the MSE takes place from 10.00 am to 3.30 pm.
