NEW DELHI, Jan 28: The Delhi office of the National Stock Exchange (NSE) proposes to provide all essential services to the members within its jurisdiction which number around 250.According to R Ramaseshan, assistant vice-president of the NSE looking after Delhi office, the NSE brokers need not rush to Mumbai each time for sorting out their problems.
The services provided by the Delhi office, he said, were all inclusive. The members could deliver and collect share certificates at the Delhi office instead of sending them to Mumbai. The member could also pay his dues to the NSE locally and get the computer related problems rectified locally.
More importantly, he said, the office also provides temporary facilities for trading to its members in case of any problem with their terminals.
The focus of the NSE, Ramaseshan said, would now be on retail debt trading. He added, the the system of wholesale debt trading on NSE had done well and the plans were afoot to extent it to the retail level. That, he added,would help the small investors to participate in the debt trading and also deepen the debt market.
Ramaseshan further said that about seven to eight members in the region, which covers mostly northern part of the country, had surrendered their membership. These, he added, were mostly first time members with little or no experience on stock market.
He also said that NSE had been waiting to participate in the allotment of shares in the primary market and the plans for which had been kept on hold as the conditions in the market were not conducive. He hoped that NSE would be able to play a pro-active role in the primary market once the dust settled down and the capital market recovered from the prolonged bear phase.
The NSE, he added, was also looking forward to play a meaningful role in the disinvestment process being undertaken by the government. It wanted that the government should offload the shares of the public sector enterprises on the NSE to help small investors participate in the process. Therequest had been pending with the government. With more public sector companies going in for disinvestment in the domestic market, the NSE too is hoping to have its share from the cake.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
