In addition to 109 suspended members, JSEL has declared another 24 members as defaulters. Yet another eight members have been expelled from the local bourse. Talking to the Financial Express, JN Dhankar, executive director, JSEL said the exchange proposed to auction the membership cards of eight expelled members as and when the market shows signs of improvement. ``Around Rs 10 lakh is to be recovered from the expelled members,'' he added.

Last year, JSEL had put four membership cards on auction but due to poor market conditions, the response received was lukewarm. Even now, conditions continued to be uncertain with the retail investors missing from the market, said Dhankar. ``We have never seen such market conditions in the past, admittedDhankar, adding that for days together, no transaction worth the name had taken place. Dhankar said that JSEL would soon enter into an agreement with the Bombay Stock Exchange (BSE) for allowing its broker members to have the latter's terminal in the premises (of the local bourse). Once BSE agreed to extension of BOLT, connection would be established.

The BSE terminal would become operational only when the `online trading system' of JSEL becomes operational. ``Mock trading on the online system would soon start,'' he informed.

The modified carry forward system would also be allowed to the members on the BOLT terminals. Once the BOLT system becomes operational, trading volume of members is expected to rise.