Pune, February 25: Following The Securities & Exchange Board of India (Sebi)'s approval, the BOLT terminal expansion to Pune Stock Exchange (PSE) is all set to be operational within a fortnight. As about 40 PSE members have already received the go-ahead for installing the on-line facility, the number of scrips traded on the bourse will increase significantly, sources said.Many more applications are expected as soon as trading on the BOLT actually begins, said PSE executive director PL Kadlaskar. Expecting a flurry of activity at the bourse, he predicted an immediate spurt in trading of 25-30 additional scrips. At present, trading on the PSE is confined to three to five scrips only. The average daily turnover of the PSE is also set to grow substantially from the present level of Rs 10-12 crore, he added.
While most of the infrastructural facilities have already been installed, trading will commence after the members have complied with certain requirements specified by Sebi, sources said.
According to aSebi directive, a PSE member is required to submit an undertaking to the effect that "total brokerage charged to the client (including that charged by the BSE member) will not exceed the prescribed limits (2.5 per cent)".
Kadlaskar said the PSE will soon inform its members about the deadline for submitting the necessary undertaking. The procedures are likely to be completed in a week's time, he informed.
PSE members are now looking forward to commencement of BOLT trading.
Copyright(c)1998 Indian Express Newspapers (Bombay) Ltd.
