The 134-year-old exchange, the Bombay Stock Exchange is heading for becoming the first ever listed stock exchange of India as the exchange approached market regulator the Security and Exchange Board of India (SEBI) seeking approval to go for listing its stocks through a prospective Initial Public Offer.

The agenda appeared in the recent meet of SEBI states, "Many exchanges are actively contemplating seeking permission to list their shares. One exchange has submitted a preliminary proposal." However, BSE spokesperson liked to remain mum over the issue.

The agenda paper has proposed self listing of stock exchange as there is no as such rule for listing the stocks of any exchange. Meanwhile, the regulator suggested three modes to avoid conflicts in self listing. These are committee model, company model and independent company model.

However, SEBI advocated the company model adding, "It is felt that in the current scenario, the company model may be more suited to the requirements of self-listing."

The company model suggests the formation of a wholly-owned subsidiary of the exchange for looking into the matters of the conduct of the market players and their conduct toward rules of operation of the stock exchange.