Inter-connected Stock Exchange of India - Revision history

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	~~[[File:Branch Networks of Interconnected Stock Exchange of India.jpg\|thumb\|Branch Networks of Interconnected Stock Exchange of India]]~~
	'''Inter-connected Stock Exchange Ltd.''' ('''ISE''') is an ~~[[India]]n~~ national-level [[Government of India\|government owned]] [[stock exchange]], providing [[Trade (financial instrument)\|trading]], [[Clearing (finance)\|clearing]], [[Settlement (finance)\|settlement]], [[risk management]] and surveillance support to its trading members. It is under the [[ownership]] of [[Ministry of Finance (India)\|Ministry of Finance]] , [[Government of India]]. It started its operation in 1998<ref>{{cite web\|url=http://www.expressindia.com/fe/daily/19980124/02455104.html \|title=Inter-connected exchange to start operations in May \|publisher=Expressindia.com \|date=1998-01-24 \|accessdate=2012-06-07}}</ref> in [[Vashi]], [[Mumbai]],<ref>{{cite web\|author=Inter Connected Stock Exchange \|url=http://maps.google.co.in/maps?hl=en&client=firefox-a&ie=UTF-8&q=interconnected+stock+exchange+address&gl=in&hq=interconnected+stock+exchange&hnear=Mumbai,+Maharashtra&ei=xINvTYvKA4X3rQfsjIWADw&oi=local_result&ved=0CCEQnwIwAA \|title=interconnected stock exchange address - Google Maps \|publisher=Maps.google.co.in \|date=1970-01-01 \|accessdate=2012-06-07}}</ref> and has 841 trading members, who are located in 18 cities. These intermediaries are administratively supported through the regional offices at [[Delhi]], [[Kolkata]], [[Patna]], [[Ahmedabad]], [[Coimbatore]] and [[Nagpur]], besides [[Mumbai]].<ref>{{cite web\|url=http://www.lawyersclubindia.com/forum/Interconnected-stock-exchange-of-india-limited-918.asp \|title=Interconnected Stock Exchange of India Limited\|publisher=Lawyersclubindia.com \|accessdate=2012-06-07}}</ref>		'''Inter-connected Stock Exchange Ltd.''' ('''ISE''') is an Indian national-level [[Government of India\|government owned]] [[stock exchange]], providing [[Trade (financial instrument)\|trading]], [[Clearing (finance)\|clearing]], [[Settlement (finance)\|settlement]], [[risk management]] and surveillance support to its trading members. It is under the [[ownership]] of [[Ministry of Finance (India)\|Ministry of Finance]] , [[Government of India]]. It started its operation in 1998<ref>{{cite web\|url=http://www.expressindia.com/fe/daily/19980124/02455104.html \|title=Inter-connected exchange to start operations in May \|publisher=Expressindia.com \|date=1998-01-24 \|accessdate=2012-06-07}}</ref> in [[Vashi]], [[Mumbai]],<ref>{{cite web\|author=Inter Connected Stock Exchange \|url=http://maps.google.co.in/maps?hl=en&client=firefox-a&ie=UTF-8&q=interconnected+stock+exchange+address&gl=in&hq=interconnected+stock+exchange&hnear=Mumbai,+Maharashtra&ei=xINvTYvKA4X3rQfsjIWADw&oi=local_result&ved=0CCEQnwIwAA \|title=interconnected stock exchange address - Google Maps \|publisher=Maps.google.co.in \|date=1970-01-01 \|accessdate=2012-06-07}}</ref> and has 841 trading members, who are located in 18 cities. These intermediaries are administratively supported through the regional offices at [[Delhi]], [[Kolkata]], [[Patna]], [[Ahmedabad]], [[Coimbatore]] and [[Nagpur]], besides [[Mumbai]].<ref>{{cite web\|url=http://www.lawyersclubindia.com/forum/Interconnected-stock-exchange-of-india-limited-918.asp \|title=Interconnected Stock Exchange of India Limited\|publisher=Lawyersclubindia.com \|accessdate=2012-06-07}}</ref>

	The ISE is promoted by 12 regional stock exchanges<ref>{{cite web\|url=http://www.rediff.com/money/1998/sep/25inter.htm \|title=Rediff on the NeT Business Interview/Joseph Massey \|publisher=Rediff.com \|date=1998-09-25 \|accessdate=2012-06-07}}</ref> namely at [[Bangalore]], [[Bhubaneshwar]], [[Chennai]], [[Kochi]], [[Coimbatore]], [[Guwahati]], [[Indore]], [[Jaipur]], [[Kanpur]], [[Mangalore]], [[Magadh]] and [[Vadodara]].<ref>[http://www.icwai.org/icwai/knowledgebank/fm40.pdf ] {{webarchive \|url=https://web.archive.org/web/20110719101433/http://www.icwai.org/icwai/knowledgebank/fm40.pdf \|date=19 July 2011 }}</ref> The participating exchanges of ISE have 4,500<ref>{{cite web \|author=V S Rama Rao \|url=http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ \|archive-url=https://archive.today/20120722145623/http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ \|url-status=dead \|archive-date=2012-07-22 \|title=Interconnected Stock Exchange of India and Regional Stock exchanges \|publisher=Citeman.com \|accessdate=2012-06-07 }}</ref> members and listed securities. It is a stock exchange of stock exchanges,<ref name="Pathak2007">{{cite book\|author=Pathak\|title=The Indian Financial System: Markets, Institutions And Services, 2/E\|url=https://books.google.com/books?id=2eZ1nuzYCwwC&pg=PA201\|year=2007\|publisher=Pearson Education India\|isbn=978-81-7758-562-9\|page=201}}</ref> members of the stock exchanges being traders on the ISE.		The ISE is promoted by 12 regional stock exchanges<ref>{{cite web\|url=http://www.rediff.com/money/1998/sep/25inter.htm \|title=Rediff on the NeT Business Interview/Joseph Massey \|publisher=Rediff.com \|date=1998-09-25 \|accessdate=2012-06-07}}</ref> namely at [[Bangalore]], [[Bhubaneshwar]], [[Chennai]], [[Kochi]], [[Coimbatore]], [[Guwahati]], [[Indore]], [[Jaipur]], [[Kanpur]], [[Mangalore]], [[Magadh]] and [[Vadodara]].<ref>[http://www.icwai.org/icwai/knowledgebank/fm40.pdf ] {{webarchive \|url=https://web.archive.org/web/20110719101433/http://www.icwai.org/icwai/knowledgebank/fm40.pdf \|date=19 July 2011 }}</ref> The participating exchanges of ISE have 4,500<ref>{{cite web \|author=V S Rama Rao \|url=http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ \|archive-url=https://archive.today/20120722145623/http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ \|url-status=dead \|archive-date=2012-07-22 \|title=Interconnected Stock Exchange of India and Regional Stock exchanges \|publisher=Citeman.com \|accessdate=2012-06-07 }}</ref> members and listed securities. It is a stock exchange of stock exchanges,<ref name="Pathak2007">{{cite book\|author=Pathak\|title=The Indian Financial System: Markets, Institutions And Services, 2/E\|url=https://books.google.com/books?id=2eZ1nuzYCwwC&pg=PA201\|year=2007\|publisher=Pearson Education India\|isbn=978-81-7758-562-9\|page=201}}</ref> members of the stock exchanges being traders on the ISE.

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2021-08-25T14:41:37Z

Reverted edits by 223.176.12.19 (talk) to last version by 106.203.138.71

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{{Use dmy dates|date=May 2020}}
{{Use Indian English|date=June 2018}}
{{Infobox exchange
|name = Inter-connected Stock Exchange of India Ltd.
|logo = Inter-connected Stock Exchange of India (logo).gif
|image =
|type = [[Stock Exchange]]
|city = Mumbai
|country = [[India]]
|coor =
|foundation = 1998
|owner = [[Government of India]]
|currency = [[Indian rupee]] ({{INR}})
|listings =
|mcap =
|volume =
|indexes =
|homepage = {{URL|http://www.iseindia.com/}}
|footnotes =
}}
[[File:Branch Networks of Interconnected Stock Exchange of India.jpg|thumb|Branch Networks of Interconnected Stock Exchange of India]]
'''Inter-connected Stock Exchange Ltd.''' ('''ISE''') is an [[India]]n national-level [[Government of India|government owned]] [[stock exchange]], providing [[Trade (financial instrument)|trading]], [[Clearing (finance)|clearing]], [[Settlement (finance)|settlement]], [[risk management]] and surveillance support to its trading members. It is under the [[ownership]] of [[Ministry of Finance (India)|Ministry of Finance]] , [[Government of India]]. It started its operation in 1998<ref>{{cite web|url=http://www.expressindia.com/fe/daily/19980124/02455104.html |title=Inter-connected exchange to start operations in May |publisher=Expressindia.com |date=1998-01-24 |accessdate=2012-06-07}}</ref> in [[Vashi]], [[Mumbai]],<ref>{{cite web|author=Inter Connected Stock Exchange |url=http://maps.google.co.in/maps?hl=en&client=firefox-a&ie=UTF-8&q=interconnected+stock+exchange+address&gl=in&hq=interconnected+stock+exchange&hnear=Mumbai,+Maharashtra&ei=xINvTYvKA4X3rQfsjIWADw&oi=local_result&ved=0CCEQnwIwAA |title=interconnected stock exchange address - Google Maps |publisher=Maps.google.co.in |date=1970-01-01 |accessdate=2012-06-07}}</ref> and has 841 trading members, who are located in 18 cities. These intermediaries are administratively supported through the regional offices at [[Delhi]], [[Kolkata]], [[Patna]], [[Ahmedabad]], [[Coimbatore]] and [[Nagpur]], besides [[Mumbai]].<ref>{{cite web|url=http://www.lawyersclubindia.com/forum/Interconnected-stock-exchange-of-india-limited-918.asp |title=Interconnected Stock Exchange of India Limited|publisher=Lawyersclubindia.com |accessdate=2012-06-07}}</ref>

The ISE is promoted by 12 regional stock exchanges<ref>{{cite web|url=http://www.rediff.com/money/1998/sep/25inter.htm |title=Rediff on the NeT Business Interview/Joseph Massey |publisher=Rediff.com |date=1998-09-25 |accessdate=2012-06-07}}</ref> namely at [[Bangalore]], [[Bhubaneshwar]], [[Chennai]], [[Kochi]], [[Coimbatore]], [[Guwahati]], [[Indore]], [[Jaipur]], [[Kanpur]], [[Mangalore]], [[Magadh]] and [[Vadodara]].<ref>[http://www.icwai.org/icwai/knowledgebank/fm40.pdf ] {{webarchive |url=https://web.archive.org/web/20110719101433/http://www.icwai.org/icwai/knowledgebank/fm40.pdf |date=19 July 2011 }}</ref> The participating exchanges of ISE have 4,500<ref>{{cite web |author=V S Rama Rao |url=http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ |archive-url=https://archive.today/20120722145623/http://www.citeman.com/6229-interconnected-stock-exchange-of-india-and-regional-stock-exchanges/ |url-status=dead |archive-date=2012-07-22 |title=Interconnected Stock Exchange of India and Regional Stock exchanges |publisher=Citeman.com |accessdate=2012-06-07 }}</ref> members and listed securities. It is a stock exchange of stock exchanges,<ref name="Pathak2007">{{cite book|author=Pathak|title=The Indian Financial System: Markets, Institutions And Services, 2/E|url=https://books.google.com/books?id=2eZ1nuzYCwwC&pg=PA201|year=2007|publisher=Pearson Education India|isbn=978-81-7758-562-9|page=201}}</ref> members of the stock exchanges being traders on the ISE.

==History==
At a meeting of the Federation of Indian Stock Exchanges held in October 1996, a steering committee was formed to evolve an Inter-Connected Market System. As a result, Inter-connected Stock Exchange (ISE), which was promoted by 14 regional stock exchanges of the country (excluding Calcutta, Delhi, Ahmedabad, Ludhiana and [[Pune Stock Exchange]], apart from NSE, BSE and OTCEI) was incorporated by [[SEBI]] under the Securities Contracts (Regulations) Act, 1956 on 18 November 1998, ISE commenced trading on 26 February 1999.{{Citation needed|date = November 2015}}

ISE was launched with an objective of converting small, fragmented and illiquid markets into large, liquid national-level markets. ISE is also a professionally managed [[stock exchange]] with the Chairman of the Exchange being also a Public Representative Director from its inception. Unfortunately for the RSEs, particularly small [[brokers]], the ISE experiment did not succeed. The daily turnover, which used to be Rs. 1 to 2 crore in the first six months, gradually declined to virtually zero level. Failure of ISE was, due to the bigger brokers of the participating RSEs failing to support any interest in trading on ISE due to commercial considerations. As a result, it becomes virtually impossible for ISE to create any worthwhile liquidity in its markets in competition with the breadth and depth of NSE and BSE. Markers continued to be fragmented as the participating RSEs did not close down their regional segments. All the while the small fragmented and illiquid market failed to emerge. ISE has also not succeeded in getting companies listed on it despite the stipulation by SEBI that the State of Maharashtra constituted the regional area for ISE due to lack of regulatory support for making it applicable to over 3,000 already listed companies in the State of Maharashtra{{Citation needed|date = November 2015}}.
SEBI permitted ISE to exit bourse business as per the SEBI order on 8 December 2014.<ref>{{cite news | url=https://www.business-standard.com/article/markets/sebi-approves-exit-of-interconnected-stock-exchange-114120800821_1.html | title=Sebi approves exit of Interconnected Stock Exchange | date=8 December 2014 | newspaper=Business Standard | accessdate=18 June 2018 }}</ref>

==Services==

===Membership===
A registered Member is entitled to execute trades and to clear and settle trades executed on his own account as well as on account of his clients in the Capital Markets Segment. Membership of the Exchange is open to corporate entities, individuals and partnership firms who fulfill the eligibility criteria laid down by SEBI and ISE

===Depository services===
Inter-connected Stock Exchange is a Depository Participant of Central Depository Service (India) Limited (CDSL)<ref>{{cite web|url=http://www.financialexpress.com/news/depository-services-basics-to-benefits/47498/0 |title=Depository Services: Basics to Benefits |publisher=Financialexpress.com |date=2002-05-26 |accessdate=2012-06-07}}</ref> and National Securities Depository Limited (NSDL).<ref>{{cite web|url=https://nsdl.co.in/ |title=NSDL |publisher=NSDL |date= |accessdate=2012-06-07}}</ref> ISE-DP has branches at Delhi, Kolkata, Patna, Guwahati, Ahmedabad, Hyderabad, Nagpur, Coimbatore, Tirunelveli and 155 Collection Centers across the country. Following depository services of CDSL are provided to the individual and corporate investors by ISE-DP:<ref>{{cite web|title = Inter-connected Stock Exchange of India Ltd|url = http://www.iseindia.com/Services/Overview|website = www.iseindia.com|accessdate = 2015-11-30}}</ref>
* Dematerialisation (Demat)
* Rematerialisation (Remat)
* Pledge of Demat securities
* Electronic Access to Securities Information & Execution of Secured Transactions (easiest)
* Settlement of securities in Demat Mode
* Electronic Access to Securities Information (easi)

===Research and Training===

The ISE Training centre was established in November, 2000.<ref>[http://www.iseindia.com/E-Academy%20Prospectus.pdf ] {{webarchive |url=https://web.archive.org/web/20110303194055/http://www.iseindia.com/E-Academy%20Prospectus.pdf |date=3 March 2011 }}</ref> It is a classroom training program on subjects related to the capital market, such as equities trading and settlement procedure, derivatives trading, day trading, arbitrage operations, technical analysis, financial planning, and compliance requirement.<ref>{{cite web|url=http://www.iseindia.com/pdf/ISETrainingBrochure.pdf |title=Training brochure |format=PDF |date= |accessdate=2021-03-12}}</ref> ISE also offers Joint Certification Training programmes in association with its partners.

===Listing===

The trading platform of ISE enables the 'Indian companies' to access equity capital, by providing a liquid and well-regulated market.<ref>[http://www.iseindia.com/companylist.aspx ] {{webarchive |url=https://web.archive.org/web/20110721220356/http://www.iseindia.com/companylist.aspx |date=21 July 2011 }}</ref> Scrips which are already being traded on stock exchanges across India are traded on the Exchange. ISE’s trading members in India trade on the scrips and provide liquidity and visibility to such scrips.

== See also ==
* [[List of stock exchanges in the Commonwealth of Nations]]

== References ==
{{Reflist}}

== External links ==
* {{Official website|http://www.iseindia.com/}}

{{Financial services in India}}
{{Stock exchanges in India}}

[[Category:Bombay Stock Exchange|BSE]]
[[Category:Financial services companies established in 1998]]
[[Category:Financial services companies based in Mumbai]]
[[Category:Former stock exchanges in India]]
[[Category:1998 establishments in Maharashtra]]
[[Category:Indian companies established in 1998]]