However, both of them are adopting a wait and watch approach before the other make it mandatory first.

The National Stock Exchange (NSE) deputy managing director Ravi Narain told The Financial Express on Monday: "We are ready with the software."

" This means that we are ready to be in line with the Securities and Exchange Board of India's (Sebi) move to make it mandatory, but only along with other exchanges."

"I am of the view that this should be implemented across all the exchanges at once. Introducing in one or a few exchange will only lead to inter-exchange arbitrage, which is not a healthy one," Narain added.

On the other hand, the Bombay Stock Exchange (BSE), which has already introduced this feature on an experimental basis since October 23, also insisting on making it mandatory across the board.

According to Bombay Stock Exchange (BSE) vice president Ms Deena Mehta, complying with this requirement would not only bring more transparency to stock trading but may also increase the quantum of margin collected by the market regulator.

With introduction of this feature Sebi wants to make margining more transparent where the margins paid by each client would be easy to quantify.

At present, the quantum of margin that broker has to pay is decided by exchange authorities and these margins are levied on the net position held by brokers.

The Securities and Exchange Board of India wants margins to be collected on gross positions of brokers which may result more margins money collections, which means more safety for the capital markets in the country.

With country's both the premier stock exchanges complying with Sebi's requirements sooner the stock trading in the country is expected to be more transparent, even though, it is expected to make the system more cumbersome at the brokers', clients' and exchanges' end.