MSE opens up to Brokers Conducts road shows in Delhi, Mumbai and Kolkata

by Shrutee K/DNS

Mumbai:   Metropolitan Stock Exchange of India (MSE), the youngest and third national level stock exchange, launches a Member Activation Drive that will provide all infrastructural support to its members, various incentive schemes as well as lowest transaction charges on almost all product contracts. The exchange introduces a Business Loyalty Program, called MY MSE, under which the members need to comply with several businesses and risk mitigating parameters to be eligible for the incentive. Among the incentive schemes, the exchange is reimbursing Clearing Fee paid by its trading members to their Clearing Members. This move reduces the transactional cost of brokers. Every broker getting activated shall be reimbursed User Id activation fee apart from other infrastructural support. The exchange is also showcasing the usefulness of executing large equity trades on its platform.

The exchange has put together a 360 degree revival plan focusing on introducing new products, revamped processes, branding and ease of business for its members. As part of its strategy, it will emphasise on expanding the market by identifying the gaps and not by competing with other exchanges. MSE is currently focusing on enhancing fixed income and currency segments and is currently in talks with MF and AMC to encourage participation without ignoring the equity segment. 

Announcing the program, Mr. Abhijit Chakraborty, COO at MSE, said, “We need to bring back our members to an active trading status. Only then our new product launches and their success shall be possible. We want our members to experience efficiency, ease of operations, newer products, all at low fixed operating cost. This is a stage wise business building plan which MSE wishes to initiate at appropriate time-frames”.

The exchange has also announced a Rights Issue on 16 September. The proceeds shall be utilized for further capitalization of its subsidiary Metropolitan Clearing Corporation and fund strategic business interests. Recently, the exchange has also done road shows in Mumbai, Delhi and Kolkata which had garnered a lot of interest among the broking community.

About MSE:Metropolitan Stock Exchange of India Limited (MSE) is a SEBI-recognized stock exchange with licences to operate in currency, interest rate & equity derivatives, equity cash, ETFs and debt. Its shareholders include India’s top public and private sector banks and domestic financial institutions who together hold over 34%, besides eminent shareholders like Rakesh Jhunjhunwala, Radhakishan Damani and Nemish S. Shah. MSE boasts of a Board of Directors with eminent personalities and a professional management to steering the company to its growth potential. In line with global best practices and regulatory requirements, clearing & settlement of trade on the exchange are through its subsidiary Metropolitan Clearing Corporation of India Ltd. (MCCIL), an accredited Qualified Central Counterparty.