"Full convertibility of the rupee is inevitable and we are gearing up to face the eventuality by getting into an arrangement with New York Stock Exchange, Nasdaq and London bourse to get some of the stocks listed on these exchanges on our exchange," BSE president Anand Rathi told PTI.

Rathi said the exchange has already entered into a memorandum of understanding (MoU) for a mutual understanding of business, transfer of technology and sharing of information.

The talks with these exchanges follow a similar MoU the stock exchange reached with Hong Kong and Singapore bourses recently.

Stating that the BSE has been spurred to go aggressive after the entry of National Stock Exchange (NSE), Rathi said it was necessary to share information and learn from the working of otherexchanges.

BSE's volume of business has risen by 80 per cent in the last eight months and this indicated its growing business in other parts of the country, Rathi pointed out. The BSE president said the exchange also plans to establish trading terminals in 400-500 different centres in the country by next year and this is expected to increase the number of trading terminals from 3,500 to 4,500.

"We will have 4,500 trading terminals of BSE in different parts of the country by March," Rathi said.

As per the Sebi rules, a stock exchange can establish their trading terminals anywhere in the country.

Rathi said the Department of Telecom (DoT) has given its approval to have a transponder, allowing the bourse to link with its members and their representatives anywhere in the country.

Currently, BSE is using the transponder facility of Hughes Escorts Communications Limited (HECL).

"We applied to DoT for a transponder anticipating increased applications from members to establish connectivity with otherparts of the country," Rathi said.

He said the exchange would continue to use HECL's facility and the new transponder facility allowed by DoT was aimed for the new members.

He said the value of the BSE memberships have risen in the past few months to 2.15 crore, indicating increased demand for its memberships.

On the future plans, Rathi said BSE would begin derivatives trading after parliament clears the Securities Contract Regulation Act (SCRA).

"We are ready to begin immediately after the parliament clears the bill," Rathi said.