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| Exchange for SMEs being discussed: C B Bhave |
| Press Trust of India / Mumbai Aug 31, 2009, 15:32 IST |
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Market regulator, Securities and Exchange Board of India (Sebi), is considering the issue of setting up an exchange for small and medium enterprises (SMEs), a top Sebi official said.
"The SME exchange is an issue we are looking at and as and when we feel that necessary conditions are in place, we will allow that," Sebi Chairman C B Bhave said at a function to launch interest rate futures at the National Stock Exchange today.
On extension of trading hours at the NSE, Bhave said Sebi's secondary market committee has discussed the issue.
"Our secondary market committee is looking at it and a committee with exchanges in it has been constituted to look at the practical aspects of this (extension of timing)," Bhave said.
"If we find it practical, we will take it back to the secondary market advisory committee," he said. There has been a suggestion that trading timings should be extended beyond the present 1530 hours period.
To a query on introduction of more products, the Sebi Chairman said, "We want to see how to introduce more products on the exchange traded platform and settle through a central clearing entity which gives settlement guarantee."
Bhave also said the time was not yet ripe for the introduction of interest rate futures in more currencies but Sebi was open to the idea. At present, it is allowed only between the rupee and the dollar.
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