RIS­ING STOCK

India Today - - STATES - —M.G. Arun

BULLISH MOOD

The BSE is Asia’s first stock ex­change and claims to be the world’s fastest, with a me­dian trade speed of 6 mi­crosec­onds. It is also the world’s 11th largest stock ex­change with an over­all mar­ket cap­i­tal­i­sa­tion (value of all the stocks traded) of more than $2 tril­lion as of July 2017. More than 5,500 com­pa­nies are pub­licly listed on the BSE.

The BSE was founded by Prem­c­hand Roy­c­hand, an in­flu­en­tial busi­ness­man in 19th cen­tury Bom­bay. Its his­tory dates back to 1855, when 22 stock­bro­kers would gather un­der banyan trees in front of Bom­bay’s Town Hall. The lo­ca­tion of these meet­ings changed many times to ac­com­mo­date an in­creas­ing num­ber of bro­kers. The group moved to Dalal Street in 1874 and be­came an of­fi­cial or­gan­i­sa­tion, The Na­tive Share & Stock Bro­kers’ As­so­ci­a­tion, in 1875. On Au­gust 31, 1957, the BSE be­came the first stock ex­change to be recog­nised by the In­dian gov­ern­ment un­der the Se­cu­ri­ties Con­tracts Reg­u­la­tion Act.

His­tor­i­cally an open out­cry floor-trad­ing ex­change, the BSE switched to an elec­tronic trad­ing sys­tem in 1995. The au­to­mated trad­ing plat­form, called BSE On­Line Trad­ing (BOLT), could take 8 mil­lion or­ders per day. A cen­tralised ex­change-based in­ter­net trad­ing sys­tem has been in­tro­duced to en­able in­vestors world­wide to trade on the BSE plat­form.

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