According to NSE MD, R H Patil, with dematerialisation becoming the norm, settlement related problems which had their genesis in a paper based system are coming to an end. ``The issues have shifted from settlement related problems to trade related problems. Hence we have decided to set up a committee on trade related issues which will comprise only of broker members. To start with, the committee will have 14 members,'' said Patil.

``The 25-member committee on settlement related issues will, however, continue to exist as there would still be some issues on that front which would need to be brought to the notice of the exchange by member brokers,'' said Patil.

The move to set up a committee on trade relatedissues is being viewed as an attempt by the exchange to enhance interaction with brokers regarding the key issue of execution of trades. ``Currently, we speak to brokers individually on trade related issues. This is not enough and hence this body, which will outline the problems being faced by brokers and bring it to the notice of the bourse. It is for this reason that the committee will have no exchange official on it so that the members can discuss their problems objectively and come back to us. If there is merit in their suggestion it will definitely be considered by the executive committee which is the highest decision making body at the exchange for its day-to-day functioning of the exchange,'' said Patil.

NSE being a professionally managed exchange has often been accused of being distant from its member brokers. The exchange top brass has, however, over the past two years realised this and given brokers an opportunity to present their views. At the first meeting of the committee on Saturday, theexchange gave a presentation to the members on the Y2K problem and the efforts which need to be taken by the exchange.