Madras bourse signs MoU with NSE

Sets up Institute of Capital Markets

The Madras Stock Exchange (MSE) has signed a memorandum of understanding with the National Stock Exchange (NSE), which would allow MSE members to trade on the NSE.

Both the exchanges are discussing the eligibility criteria for selecting members and one of the caps would be the company’s track record, said RK Pillai, executive director, MSE. The service will start in a month.

The 71-year-old stock exchange, which was the first to begin operations in south India, has 1,350 members and 800 exclusive listed members, he told Business Standard.

On Tuesday, the stock exchange launched MSE Institute of Capital Markets to offer training courses in capital markets in Chennai.

The institute would focus on investors including schools, colleges, banks, public sectors companies, NGOs, trade unions, Armed Forces and police with its new short-time and long-time courses, said V Nagappan, chairman of the institute.

The exchange is also planning to focus on media, and educational institutions like universities and colleges, he added.

“We tried a pilot with our Money Edge Programme in 11 schools covering 1,100 students. The response was good and we now have decided to involve other private and government schools,” said Nagappan. Students from class VIII and IX would be given training in savings and basics of banks and investments.