Calcutta Stock Exchange Seeks to Put Exit Application on Hold
West Bengal government backs plans to revive the 118-year-old bourse.
1Calcutta Stock Exchange's Closure Process
The Calcutta Stock Exchange (CSE) submitted a voluntary exit application to the Securities and Exchange Board of India (Sebi) in February 2025. However, the West Bengal government's revival plans have put this process on hold.
2Support from the West Bengal Government
The West Bengal government announced its support for reviving CSE in its budget statement. This decision led to the suspension of the exchange's exit application and initiated a new process.
3Communication with Sebi
CSE sent a letter to Sebi requesting to put its exit application on hold. The exchange management stated that they would withdraw the application once the state-backed revival process gains momentum.
4Legal and Commercial Hurdles
CSE needs to overcome significant legal, technological, and commercial hurdles before resuming full-fledged operations. The exchange must tackle these challenges to become operational again.
5Status of Regional Exchanges
Sebi introduced an exit framework for regional exchanges in 2012, asking those with low annual trading turnover to voluntarily cease operations. Over the past decade, more than 20 regional exchanges have shut down.
6Interest from Local Brokers
Although CSE suspended trading on its own platform, local brokers continued to trade through the exchange. This highlights CSE's importance and potential in the region.
Original article: Economic Times — Calcutta Menkul Kıymetler Borsası Kapanma Başvurusunu Askıya Aldı