An Integrated Future Of Stock Exchanges

Regulatory board SEBI’s much awaited plan to have a unified regime for stock exchanges finally materialised in October 2018. Last December, it had announced its plan to create a single window regime for the stock exchanges, thereby allowing them to trade in commodities derivatives. For which, SEBI had charted clear plans to smoothly integrate the exchanges in two phases.  In the first phase, it had proposed to have integration at the intermediary level. And in phase-II, necessary steps were to be taken to enable a single exchange to operate across various commodity segments. On October 1, 2018, BSE achieved huge milestone by commencing trading in commodity derivatives in delivery based futures contracts starting with gold (one kg) and silver (30 kg). Whereas, NSE started its trading on October 12, after the year entered auspicious ‘Matri-Paksh’, with gold (one...