Ase Brokers Call Off Stir

Ahmedabad Stock Exchange (ASE) members, who had been agitating under the aegis of ASE Brokers' Association (ABA) and had simultaneously resorted to trade boycott since July 9, today decided to suspend their stir and resume trading with effect from Wednesday.

Meanwhile, at a meeting organised jointly by the NSE Members Association and BSE Brokers Forum in Mumbai today, it was decided to float a national level apex body by the name of Securities Industries Association of India (SIA). The meet was attended by representatives of around 15 regional stock exchanges.

A steering committee of SIA was also constituted comprising one member from each of the 15 participating exchanges.

The SIA has also given a call for a one-day strike on July 23 for all stock exchanges in the country, demanding reintroduction of the weekly account period settlement and modified carry forward system.

ABA secretary Anil Shah said the decision to resume trading on ASE was taken by ABA office bearers in Mumbai today, after the SIA steering committee and representatives of various regional stock exchanges persuaded ABA to suspend the agitation temporarily. ABA would be resuming the agitation with effect from July 23 - the day SIA would be observing a one-day token strike, he added.

Shah said though SIA would be observing only a one-day token strike on July 23, ABA plans to resort to an indefinite agitation and trade boycott with effect from July 23.