According to the President of the Ludhiana Stock Exchange, Jaspal Singh, LSE had reached another milestone with the intoduction of MCFS and SGF. The exchange has already implemented On-line screen based trading and provides on-line rates for BSE and NSE.

The introduction of MCFS would facilitate borkers to carry-forward their positions for three months in specified shares instead of the earlier mandatory weekly squaring. ``The introduction of SGF will help dispel fears of loss on account of default by a broker and add to the volumes,'' said LSE's vice president, M S Sarna.

The exchange has also got thenod from the Securities and Exchange Board of India to expand its on-line, screen-based trading beyond the municipal limit of Ludhiana. The on-line trade beyond Ludhiana's territorial limit would be carried through Very Small Aperture Terminals (VSATs). This measure is expected to give a boost to the trading volumes on the exchange after brokers install terminals in different cities.

Already, the introduction of screen-based trade has given a fillip to volumes on the Ludhiana bourse. Screen-based trading, which was introduced in six months by PUNCOM Ltd, has led to an increase in average daily turnover from Rs 10-15 crore in 1996 to Rs 25-30 crore.

The exchange has also taken measures in order to make public companies accountable and transparent to investors. The exchange recently suspended 22 companies on account of non-compliance of post-listing requirements like furnishing of half-yearly results, annual report and information pertaining to book-closure. Earlier, 11 companies had been suspended onaccount of non-redressal of investor complaints.