The newly-elected CSE President J M Chaudhary expressed hope that average daily turnover at the exchange would go up to Rs 2600 crore by 2001 from the present level of Rs 1250 crore.

He said the capital market is passing through a transitional phase as integration with global market is the new buzzword. In this context, setting up of custodian services would be the exchange's priority to attract foreign institutional investors. ``Strategies have been chalked out and final shape to the custodian services would be given in the coming month,'' Chaudhary said.

He said the derivative trading is in the offing and would be a reality very soon. The Calcutta Stock Exchange is keen to promote and become a major player in this segment along with the co-operation of the smaller regional stock exchanges. The Calcutta Stock Exchange is keen to have its own derivative system and efforts will be directed to project a national perspective. By introducing derivative trading and rolling settlement, the Calcutta Stock Exchange is now readying itself for the next millennium by acquainting the members of its intricacies, Chaudhary said.

On internet trading, he said even before the final nod by sebiand the government for commencement of this system ``our engineers are working hard for its development.''

Chaudhary said the exchange is further developing C-star on a war-footing for its expansion out of the state. A number of agreements have been signed with various regional stock exchanges to offer them CSE's membership to increase the penetration.

The Calcutta Stock Exchange president said commencement of demat trading and launching of the new sensitive index are few other measures being considered for bettering the service to investors.

``As part of this effort, we are also embarking on a programme of investor education, he said.''

He lamented that registration papers for the exchange's building complex are lying with the Calcutta Municipal Corporation for more than six months. Set up in 1908 in the then capital of the country, the Calcutta Stock Exchange's history is associated with that of Calcutta itself.