Parekh informed that the clearance implies that the exchange would continue to fulfil prerequisites like a proper surveillance mechanism, an online margin system and compliance with the ground rules laid down by Sebi for the revised carryforward system.

In addition he revealed that the exchange was in dialogue with the Stock Holding Corporation of India Limited (SHCIL) which is expected to become a member of the CSE clearing house in due course. Once this materialises, it will pave the way for commencement of business by UTI in Calcutta. He was hopeful that later on more custodians would become members of the clearing house. The president disclosed that the exchange was now awaiting Sebi approvalfor the expansion project of C-STAR. "This will help the exchange to expand to other cities and towns of the state besides setting up trading terminals in other exchanges," he added.

"We have begun a survey of members interested in procuring additional terminals outside Calcutta. Depending on the requirement, we will work out the detailed action plan," he noted.