HSE to expand reach to small, medium towns in AP

Our Markets Bureau

Hyderabad, Sept 12: In a bid to improve its daily turnover, the Hyderabad Stock Exchange (HSE) has decided to expand its reach to small and medium towns in Andhra Pradesh (AP) using the infrastructure provided by Nettlinx Ltd, a private ISP player. The exchange has signed a memorandum of understanding (MoU) with Nettlinx to provide the service without charging any networking deposit.

“As on date, to set up an additional terminal, the member has to pay a deposit of Rs 30,000 to the exchange towards the networking deposit,” HSE president N Rangaprasad told The Financial Express.
In a recent communication to its members, the exchange has sought to know their willingness to set up additional terminals in other towns.

In the first phase, HSE has decided to set up terminals in Hyderabad, Vijayawada, Visakhapatnam, Guntur, Tirupati, Nellore, Nizamabad, Adilabad, Warangal and Anantpur, the sources said.

HSE is hopeful that its members may gain from this tie-up as they may get some more business from regional centers for its subsidiary — HSE Securities, a trading member of NSE. “We also expect that the Securities and Exchange Board of India (Sebi) will allow us to trade on the futures and this expansion will facilitate the semi-urban investor to trade on the exchange terminal from their home town,” the president said.