Dse Members To Decide Fate Of Bourse

The Delhi Stock Exchange (DSE), set up in 1947 and one of the oldest bourses in the country, has convened a meeting of all its members on June 10 to take a final call on whether it should shut down or continue operations in the current scenario.

Officials told Business Standard that while the DSE had 340 members, only 23 terminals were hooked on to the system. Volumes in the exchange plummeted over the past 10 months. Last month, it recorded zero turnover on five days.

When contacted, DSE president Vijay Bhushan said a section of the member-brokers felt that reviving the exchange was difficult at this juncture. The only silver lining is its 100 per cent subsidiary, DSE Financial Services, which allows members to trade on the Bombay Stock Exchange (BSE) by becoming sub-brokers.

 

The DSE board, which met yesterday, also decided to rightsize its staff strength by around 50 per cent. Bhushan said the exchange had offered a voluntary retirement scheme (VRS) to its employees early this year.