BSE members can now initiate the process of setting up terminals in Calcutta, Chennai, Delhi, Bangalore, Cochin, Coimbatore, Thiruvananthapuram, Ludhiana, Guwahati and Mangalore. BSE is aggressively pursuing its expansion plans, following the Sebi decision to remove restrictions on setting up of terminals anywhere in the country. Sebi in 1996 had put restrictions on exchanges from expanding their terminals to those centres where a recognised stock exchange was located. However, this was not applicable to the National Stock Exchange.

While inviting applications from its members for expansion in the 10 locations, BSE is also moving court to seek permission to set up terminals in Hyderabad, Secunderabad, Lucknow and Kanpur. There are court orders (issued prior to the Sebi decision) which restricted setting up terminals in these cities. BSE, in a circular to its members, has said that it is moving ``the court for vacating these orders and, therefore, members would be able to set up their terminals at these centres after such court orders are received.''

In those cases, where the BSE has entered into an MoU with other exchanges, it seeks to ``provide some assistance and help'' to these exchanges. Essentially, it will assist the members of these exchanges ``To use the services of our members in expansion of their trading terminals.'' BSE has entered into MoUs with the stock exchanges of Ahmedabad, Pune, Saurashtra-Kutch, Vadodara, Madhya Pradesh, Bhubaneshwar, Jaipur and Magadh.

BSE seeks to regain its premier position, which it had lost out to the NSE. The latter had been growing at a tremendous pace, infusing the much-needed competition in the market place. When BSE's expansion plans are completed, the country will have two national markets for investors.