Inter-connected Stock Exchange of India
Inter-connected Stock Exchange of India (ISE) is a national-level stock exchange offering trading, clearing, settlement, risk management and surveillance support to its Trading Members.
The Exchange has floated ISE Securities & Services Limited (ISS) as a wholly-owned subsidiary under the policy formulated by the Securities and Exchange Board of India (SEBI) for “Revival of Small Stock Exchanges”. ISS has been registered by SEBI as a Trading-cum-Clearing Member in the Capital Market segment and Futures & Options segment of NSE, and Capital Market segment of BSE.
ISE has implemented T+2 settlement cycle since April 1, 2003. The pay-in and pay-out of funds and securities are computed on a net basis at the level of the Trading Member. All settlement liabilities amongst the Trading Members are guaranteed by the Exchange’s Settlement Guarantee fund. Moreover, investors are protected against non-fulfillment of commitments by the Trading Members of ISE through the Investor Protection Fund.
ISE Research Cell has been set up in November 2005 with the objective of carrying out quality research on various facets of the Indian financial system in general and the capital market in particular. The Research Cell plans to expand its activities by publishing a host of value based research publications covering a number of areas such as derivatives, equities, mutual funds, bonds, risk management, money markets, pension funds, and commodities.
The Exchange has also established the ISE Training centre to conduct classroom training programs on a range of subjects related to the capital market, such as equities trading and settlement, derivatives trading, day trading, financial planning, arbitrage operations, technical analysis, compliance requirement, etc. Through these courses, the training centre provides useful knowledge to stock brokers, sub-brokers, professionals and investors.
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The Exchange has floated ISE Securities & Services Limited (ISS) as a wholly-owned subsidiary under the policy formulated by the Securities and Exchange Board of India (SEBI) for “Revival of Small Stock Exchanges”. ISS has been registered by SEBI as a Trading-cum-Clearing Member in the Capital Market segment and Futures & Options segment of NSE, and Capital Market segment of BSE.
ISE has implemented T+2 settlement cycle since April 1, 2003. The pay-in and pay-out of funds and securities are computed on a net basis at the level of the Trading Member. All settlement liabilities amongst the Trading Members are guaranteed by the Exchange’s Settlement Guarantee fund. Moreover, investors are protected against non-fulfillment of commitments by the Trading Members of ISE through the Investor Protection Fund.
ISE Research Cell has been set up in November 2005 with the objective of carrying out quality research on various facets of the Indian financial system in general and the capital market in particular. The Research Cell plans to expand its activities by publishing a host of value based research publications covering a number of areas such as derivatives, equities, mutual funds, bonds, risk management, money markets, pension funds, and commodities.
The Exchange has also established the ISE Training centre to conduct classroom training programs on a range of subjects related to the capital market, such as equities trading and settlement, derivatives trading, day trading, financial planning, arbitrage operations, technical analysis, compliance requirement, etc. Through these courses, the training centre provides useful knowledge to stock brokers, sub-brokers, professionals and investors.
* Featured Articles:
MCX Stock Exchange Ltd
OTC exchange of India (OTCEI)
Calcutta Stock Exchange Association Ltd