National Stock Exchange of India
The
National Stock Exchange of India (
NSE), is one of the largest and most advanced
stock markets in
India. The NSE is the world's third largest stock exchange in terms of transactions. It is located in
Mumbai, the financial capital of
India. The
NSE VSAT terminals, 2799 in total (31
st December
2005), cover 320 cities in
India [
1].
The National Stock Exchange of India was promoted by leading
Financial Institutions at the behest of the
Government of India, and was incorporated in November
1992 as a tax-paying company. In April
1993, it was recognized as a
stock exchange under the
Securities Contracts (Regulation) Act,
1956. NSE commenced operations in the
Wholesale Debt Market (WDM) segment in June
1994. The Capital Market (
Equities) segment of the NSE commenced operations in November
1994, while operations in the
Derivatives
NSE has remained in the forefront of modernization of India's capital and financial markets, and its pioneering efforts include:
*Being the first national, anonymous, electronic limit order book (LOB) exchange to trade securities in India. Since the success of the NSE, existent market and new market structures have followed the "NSE" model.
*Setting up the first clearing corporation "National Securities Clearing Corporation Ltd." in India. NSCCL was a landmark in providing novation on all spot equity market (and later, derivatives market) trades in India.
*Co-promoting and setting up of
National Securities Depository Limited, first depository in India[
2].
*Setting up of
S&P CNX Nifty.
*NSE pioneered commencement of Internet Trading in February
2000, which led to the wide popularization of the NSE in the broker community.
*Being the first exchange that, in 1996, proposed exchange traded derivatives, particularly on an equity index, in India. After four years of policy and regulatory debate and formulation, the NSE was permitted to start trading equity derivatives three days after the BSE.
*Being the first exchange to trade ETFs (exchange traded funds) in India.
Currently, NSE has the following major segments of the capital market:
*Equity
*Futures and Options
*Retail Debt Market
*Wholesale Debt Market
NSE also set up as index services firm known as
India Index Services & Products Limited (IISL) and has launched several stock indices, including:
S&P CNX NiftyCNX Nifty JuniorCNX 100 (=
S&P CNX Nifty +
CNX Nifty Junior)
S&P CNX 500 (=
CNX 100 + 400 major players across 72 industries)
CNX Midcap (introduced on 18 July 2005 replacing
CNX Midcap 200)
Source - http://www.nse-india.com/content/indices/ind_majorindices.htm
NSE also conducts online examination and awards certification, under its programmes of NSE's Certification in Finanacial Markets (NCFM)[
3]. Currently, certifications are available in 9 modules, covering different sectors of financial and capital markets. Branches of the NSE are located throughout India.
*
Official site
