Madras Stock Exchange will soon revive its online trading platform and will seek to merge regional stock exchanges to meet Sebi?s recent regulations to have a minimum net worth and turnover for its survival, said members of the set-up advisory committee.
There are currently two exchanges active in the southern region ? Bangalore Stock Exchange and Cochin Stock Exchange.
S Venkateswaran, member of advisory committee of MSE, said: ?We have decided to revive our online trading platform, which has been dormant for more than 10 years. The exchange, through its subsidiary, has already developed and procured requisite software and hardware for this purpose now. The exchange has also set up far and near disaster recovery sites and the new trading platform is awaiting Sebi approval.? MSE will celebrate its platinum jubilee on September 29.
According to V Nagappan, an advisory committee member of MSE, ?MSE has been involved in discussions with regional stock exchanges to merge itself to attain the necessary networth.?