The SGF operation had earlier been delayed as a section of the brokers had objected to the idea of providing guarantees. The same has now been done away with, said the officials.

With SGF in place, the bourse is geared up to open new centres across the state.

``The idea behind such centres is to extend the reach of BgSE. We have plans to add at least three more centres later this year. However, the places are yet to be finalised,'' said a senior bourse official.

One of the factors that is making the bourse go slow on its expansion is that it wants to expand to areas wherein the Coffee Futures Exchange India Ltd (Cofei) is also able to do conduct its business. Since the Cofei is operating out of BgSE premises, it was felt that it would bebetter to identify areas where both could carry out operations simultaneously, said the official.

Cofei officials are believed to have suggested areas like Sakleshpur near Chikamgalur and Yercaud in Salem district of Tamil Nadu as possible locations.

The BgSE will, however, take a decision on these areas only after a proper market viability study is conducted, added the official.

The three investor centres, which will be inter-connected with the bourse, will be mini-stock exchanges since they would provide real-time quotes of Bombay, National and Bangalore stock exhanges.

In addition, they will have all the services which the Bangalore bourse provides to investors like data on companies, balance sheets, library etc.

Investors will be able to transact business from these centres through a local broker.

Meanwhile, The Stock Holding Corporation of India Ltd (SHCIL) has already set up an office at the BgSE and is currently working out the nitty gritty of demat trading with bourse officials. ``Thoughinitially the demat segment may not witness much activity, we foresee it as a great investment for the future,'' said a leading BgSE broker.

The BgSE has also decided not pursue the connectivity plan with the Coimbatore Stock Exchange (CSX). The Inter-Connected Stock Exchange of India, (ISE) when complete, will provide connectivity between the various regional bourses and hence there was no need to have a separate link with the CSX, said exchange officials.