MUMBAI, Mar 19: The National Stock Exchange (NSE) on Thursday unveiled a two-pronged move to increase the number of terminals installed at the bourse.On the one hand, the exchange has decided to bring down the security deposit payable by a member for installation of a V-Sat connection to Rs 3.25 lakh as against Rs 5 lakh payable earlier.On the other, it has decided to allow members to operate five terminals for every V-Sat connection taken by him. As of now, a member is allowed to install three terminals per V-Sat connection.
"The rates of equipment have definitely come down over the years. In line with this, the board of the exchange has decided to bring down the deposit rates on V-Sat connections. We expect several hundred members to be benefited by the move," said NSE deputy managing director Ravi Narain. The reduction will be applicable to requests for V-Sats received on or after March 18, 1998. The move was cleared by the NSE board which met on March 17.
According to NSE, after the depletion indeposits in respect of the current and new V-Sats, annual recovery will be made on a yearly basis instead of calling for additional deposits.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
