| INTRODUCTION
Inter-connected Stock Exchange of
India Ltd. (ISE) has floated ISE Securities & Services Ltd. (ISS)
as a wholly-owned subsidiary under the policy formulated by the Securities and
Exchange Board of India (SEBI) for “Revival of Small Stock Exchanges”. The
policy enunciated by the SEBI permits a stock exchange to float a subsidiary,
which can take up membership of larger stock exchanges, such as the National
Stock Exchange of India Ltd. (NSE), and Bombay Stock Exchange Ltd. (BSE). ISS
has been registered by SEBI as a Trading-cum-Clearing Member in the Capital
Market segment and Futures & Options segment of NSE and Capital Market
segment of BSE. Trading Members of ISE can access NSE and BSE by registering
themselves with SEBI as Sub-brokers of ISS. Thus, the trading intermediaries of
ISS can access other markets in addition to the ISE market and their local
market. ISS, thus provides the investors in smaller cities, a one-stop solution
for cost-effective and efficient trading and settlement services in securities.
ISS has commenced operations in the
NSE segment from May 3, 2000 and the BSE segment from December 24, 2004, and is
at present operating from 80 locations viz. Agra, Ahmedabad, Ahmednagar,
Allahabad, Aurangabad, Bahadurgarh, Balasore, Baroda, Belgaum, Bhandara,
Bhopal, Bhubaneshwar, Bina, Burdwan, Burhanpur, Chaibasa, Chapra, Chennai,
Chhatrapur, Coimbatore, Cuttack, Darbhanga, Delhi, Dhakuria, Dhanbad,
Ghaziabad, Goa, Guwahati, Gwalior, Hissar, Hubli, Hyderabad, Indore, Jaipur,
Jalandhar, Jamnagar, Jamshedpur, Jharkhand, Kalyan, Kanpur, Karaikudi, Karnal,
Karur, Katni, Khandwa, Kinnigoli, Kloor, Kolkata, Lashkar Gwalior, Lucknow,
Madurai, Mangalore, Mumbai, Nagpur, Navi Mumbai, New Delhi, Noida, Ongole
(A.P.), Palani, Patna, Perumannur, Pune, Punjab, Raichur, Raipur, Rajapalayam,
Rajkot, Ranchi, Sagar, Salem,Sambalpur, Sangli, Sasaram, Silchar, Siliguri,
Sirsa, Surat, Thane, Thiruvananthpuram,Tirupur and Vadodara.
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