Inter-connected Stock Exchange of India
stock exchange in India
Inter-connected Stock Exchange Ltd. (ISE) was an Indian national-level stock exchange.
under the ownership of Ministry of Finance, Government of India.
It is responsible for providing trading, clearing, settlement, risk management and surveillance support to its trading members. It started its operation in 1998 in Vashi, Mumbai, and has 841 trading members, who are located in 18 cities. These intermediaries are administratively supported through the regional offices at Delhi, Kolkata, Patna, Ahmedabad, Coimbatore and Nagpur, besides Mumbai.
The ISE is promoted by 12 regional stock exchanges namely at Bangalore, Bhubaneshwar, Chennai, Kochi, Coimbatore, Guwahati, Indore, Jaipur, Kanpur, Mangalore, Magadh and Vadodara. The participating exchanges of ISE have 4,500 members and listed securities. It is a stock exchange of stock exchanges, members of the stock exchanges being traders on the ISE.
History
At a meeting of the Federation of Indian Stock Exchanges held in October 1996, a steering committee was formed to evolve an Inter-Connected Market System. As a result, Inter-connected Stock Exchange (ISE), which was promoted by 14 regional stock exchanges of the country (excluding Calcutta, Delhi, Ahmedabad, Ludhiana and Pune Stock Exchange, apart from NSE, BSE and OTCEI) was incorporated by SEBI under the Securities Contracts (Regulations) Act, 1956 on 18 November 1998, ISE commenced trading on 26 February 1999.
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This entry incorporates text from “Inter-connected Stock Exchange of India” on English Wikipedia. Contributors are listed in the page history. Text is available under the Creative Commons Attribution-ShareAlike 4.0 License. Selected authority identifiers and statements are retrieved from Wikidata under CC0; their references and qualifiers remain part of the verification path.