Bse Meet On Monday Over Key Issues

The Bombay Stock Exchange (BSE) will hold an extra-ordinary general meeting (EGM) on Monday (August 6) to discuss further and decide upon the course of action about demutualisation and corporatisation of the exchange, the issue of limited trading membership in its derivatives segment, increase in transaction and other charges, reduction/deterioration of the performance and the state of affairs at Central Depository Services (India) Ltd (CDSL).

In a circular sent to BSE members, the executive director has said the exchange had received a requisition signed by 85 members of the exchange on the July 24, 2001, to convene an EGM of the exchange.

Meanwhile, BSE has suspended the membership rights of Ramesh S Shet with effect from August 1, 2001, for an indefinite period for non-implementation of the directives of the disciplinary action committee.

SIAI NATIONAL CONVENOR: Deena Mehta has appointed national convenor and spokesperson of the Securities Industry Association of India (SIAI). This decision was taken in a meeting of the steering committee of SIAI held today at Mumbai.

All the major exchanges including BSE, NSE, CSE and ASE were present and other exchanges conveyed their support to the meeting.

A SIAI release said a committee was appointed to steer the movement forward. It has also decided to put forward before the authorities various demands including, introduction of deferral products; pending matter of introduction of electronic fund transfer and online securities transfer to DP.