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HISTORY
History dates back to 1855 when 5 stockbrokers gathered under a
banyan tree
They moved to Dalal Street in 1874 and became official
organization known as The Native Share & Stock Brokers
Association in 1875
Got recognized by Indian government under Securities Contracts
Regulation Act on August 31, 1957
Developed BSE Sensex index in 1986
Switched to electronic trading system in 1995
QUICK FACTS
Located at Dalal Street, Mumbai.
Established in 1875
Asias first stock exchange
Worlds fastest stock exchange
median trade speed = 6 microseconds
Worlds 11th largest stock exchange
Market cap = $1.682 trillion (January 31, 2015)
Worlds No. 1 exchange with 5688 listed companies (June 30, 2015)
CONTD
First exchange in India and second in world
to obtain ISO 9001:2000 certification
to receive Information Security Management System
Standard BS 7799-2-2002 certification for its On- Line
trading System (BOLT)
BSE's equity index - the S&P BSE SENSEX - is India's
most widely tracked stock market benchmark index.
Provides depository services through its Central Depository
Services Ltd. (CDSL) arm
Negotiated Dealing
System (Feb 15, 02)
Indian Corporate
Debt Market (Jan 2,
07)
Currency Derivatives
(Oct 1, 08)
Overnight Investment
Product (May 18, 15)
Equity Derivatives
(Jun 9, 00)
Interest Rate
Derivatives (Aug 7,
09)
Currency derivatives
& Interest Rate
Derivatives (Nov 28,
13)
Wholesale Debt
Market (Jun 15, 01)
6.83 6.19
4.49 3.99
3.33 3.32
Rank 11
*As on
31/3/15
PRODUCTS OFFERING
DEBT MARKET
PRIMARY MARKET
Preferred choice by issuers for
listing Privately Placed Debt
Instruments.
In FY14-15, BSE listed 1,575
Instruments vis-a-versa 1,301 on
other Exchange.
Out of 26 Debt Public Issues, 25
times BSE has been appointed as
Designated Stock Exchange
Amount
crores.
mobilized:
Rs.41,860
SECONDARY MARKET
Retail trading of
Corporate Bonds
(Market Share)
FY 1314
FY 1415
Jun
15
55%
63%+
71%
22%
PUBLIC ISSUES
FUND MOBILIZATION
OVERALL FUND
MOBILIZATION
EQUITY TRADES
EQUITY DERIVATIVES
India is one of the vibrant markets for exchange traded equity
derivatives in the world.
The trading volumes in the equity derivative market surpassed
that of the cash segment turnover by 12.4 times in November
2015.
Index options comprised 94.5 percent of BSEs equity
derivative turnover, stock options constituted 5.2 percent.
In December 2015, NSE had 97.5 percent share in total equity
derivatives turnover in India while BSEs share was 2.5 percent.
No. of contracts
Particular
Dec-15
(i) Index Futures
381
405
-6.1
Dec-15
Nov-15
7,353
%age
Change
over Month
7,790
-5.6
Put
23,423
22,410
4.5
4,65,551
4,40,825
5.6
Call
90,213
79,201
13.9
17,14,077
14,88,080
15.2
27
16
67.7
551
332
66.0
TOTAL
Nov-15
%age Change
over Month
Put
3,280
1,650
98.7
64,064
30,652
109.0
Call
2,965
1,843
60.9
57,044
37,518
52.0
1,20,288
1,05,526
14
23,08,640
20,05,197
15.1
INDEX OPTIONS
CURRENCY DERIVATIVES
Currency Derivatives are Future and Options contracts which
one can buy or sell specific quantity of a particular currency
pair at a future date
It is similar to the Stock Futures and Options but the underlying
happens to be currency pair (i.e. USDINR, EURINR, JPYINR
OR GBPINR) instead of Stocks
The turnover of currency derivatives at BSE increased by 7.7
percent to 1,93,962 crore in December 2015 from 1,80,138
crore in November
CURRENCY FUTURES
CURRENCY OPTIONS
TRENDS OF IRDs
REGISTRATION PROCEDURE
TRADING MECHANISM
Screen based trading : All SLB
transactions (Lending and Borrowing,
and Recalls and Early Returns) will
take place on a single automated,
screen based, order-matching platform
which will be provided to the eligible
participants. Matching will be on
price-time priority.
Eligible Securities : All securities
available for trading in F&O segment
are permitted. Securities lending and
borrowing is permitted in
dematerialized form only.
Product specifications are given
beside:
Approved
BOISL
Intermediary
Eligible
All securities traded in the Derivatives
Securities
Segment
Trading Hours
9:15 a.m. to 3.30 p.m.
Series
Order Type
Permitted lot
size
Tick Size
Last Trading
Day
Stock Return
Day (SRD)
Corporate
Action
CLEARING
All obligations are on a gross basis i.e. there is no netting of transactions.
Obligations for the first leg are downloaded to participants/Custodians on the T day and
obligations for the reverse leg are downloaded on T+1 day.
Lenders Obligation : The lenders obligation is the securities lent on T day (Transaction
date). The lender is required to deliver the securities by the scheduled time on T+1 day.
Recall Obligation : In case of recall the lenders obligation is the lending fee transacted for
the recall transaction and is payable on T+1 day.
Borrowers Obligation : Borrowers obligation is the lending fees and the lending price
(T-1 day closing price in the underlying security) in cash collaterals payable on T+1 day.
Early Return Obligation : The borrower is required to deliver the securities by the
scheduled time on T+1 day.
CIRCUIT BREAKERS
The index-based market-wide
circuit breaker system applies at
3 stages of the index movement,
either way viz. at 10%, 15% and
20%. These circuit breakers
when triggered bring about a
coordinated trading halt in all
equity and equity derivative
markets nationwide. The marketwide circuit breakers are
triggered by movement of either
the S & P BSE Sensex or the
NSE CNX Nifty, whichever is
breached earlier.
The trigger limits and the
respective halt duration is
given beside:
Trigger Limit
10%
15%
20%
Trigger Time
Halt duration
Before 1 Pm
45 Minutes
At or After 1 PM
15 Minutes
to 2.30 PM
At or after 2.30
No Halt
PM
1 Hour 45
Before 1 PM
minutes
At or after 1 PM
45 Minutes
before 2 PM
Trading halt for
On or after 2 PM the remainder of
the day.
Trading halt for
Any time of the
the remainder of
day
the day.
Pre Opening
Session
duration post
each halt
15 Minutes
15 Minutes
15 Minutes
15 Minutes
-
HOW IS SENSEX 30
CALCULATED?
SENSEX has been calculated since 1986 and initially it was
calculated based on the Total Market Capitalization
methodology and the methodology was changed in 2003 to
Free Float Market Capitalization.
The SENSEX is based on the Free Floating Market cap of 30
SENSEX Stocks traded on the BSE relative to the base value
which is 100 and it is calculated for every 15 seconds.
HOW IS SENSEX 30
CALCULATED? CONTD..
SENSEX is calculated using the "Free-float Market
Capitalization" methodology, wherein, the level of index at any
point of time reflects the free-float market.
It reflects value of 30 component stocks relative to a base
period.
The market capitalization of a company is determined by
multiplying the price of its stock by the number of shares
issued by the company.
This market capitalization is further multiplied by the free-float
factor to determine the free-float market capitalization.
HOW IS SENSEX 30
CALCULATED? CONTD..
The formula for calculating the SENSEX =
(Sum of free flow market cap of 30 benchmark stocks)*Index
Factor
where,
Index Factor = 100/Market Cap Value in 1978-79.
100 is the Index value during 1978-79.
Benefits of
listing in BSE
CURRENT NEWS
11th Feb 2016
5th Feb 2016
GROUP 5
AKASH VERMA
ABHINAV GUPTA
KAVYA PARUPUDI
GARIMA AGARWAL