Rajkot-based Saurashtra Kutch Stock Exchange Ltd (SKSE) received permission from Sebi to function as a self clearing member on derivatives segment. Now, SKSE would soon begin trading on the future and option (F&O) segment, said CEO of SKSE, Dr Alok Chakrawal.
"SKSE is the third subsidiary of a stock exchange across the country to have received permission from Sebi," said Chakrawal, adding that about eight subsidiaries of various stock exchanges from cities like Pune, Delhi and Vadodara had applied for the approval.SKSE had successfully recorded transactions of about Rs700 crore to Rs800 crore a year. This was possible as the market was booming otherwise, they expect trading of approximately Rs100 crore to Rs125 crore a year, he added. People of Saurashtra, trade on precious metals, grains, petrol-deisel and they will definitely trade on currency derivatives as well, said Dr Chakrawal. "People have started taking interest in currency derivatives", said broker director VP Vaishnav.
To meet the Sebi's requirements, SKSE will stay on the NSE trading system (NEAT), said Ashok Koyani, the officiating CEO.
SKSE is the third subsidiary of a stock exchange to get permission from Sebi
SKSE will use NSE trading system
Around 105 sub brokers across Saurashtra have registered with SKSE
Dhimant Kariya/ DNA-Daily News & Analysis Source: 3D Syndication