BSE

 The Stock  Exchange, Mumbai,  popularly  known  as "BSE" was established in 1875 as "The  Native  Share  and Stock  Brokers  Association". It  is the  oldest  one in Asia, even  older  than  the Tokyo Stock  Exchange, which was established in 1878.  It is a voluntary non-profit  making  Association of Persons  (AOP) and is currently engaged in  the  process  of  converting  itself  into  demutualised  and  corporate  entity.  It  has evolved over the  years into its present status as the premier Stock Exchange in the country.  It  is  the  first  Stock  Exchange in  the Country  to  have  obtained  permanent recognition  in  1956  from  the  Govt.  of  India  under  the  Securities  Contracts (Regulation)  Act  1956.The  Exchange,  while providing  an  efficient  and  transparent market  for  trading  in  securities,  debt  and  derivatives  upholds  the  interests  of  the

investors and ensures redresses of their grievances whether against the companies or its own member-brokers. It also strives to educate and enlighten the investors by conducting  investor  education  programmers  and  making  available  to  them necessary informative inputs.

       A  Governing  Board  having  20 directors  is  the  apex  body,  which

       decides  the  policies  and  regulates the  affairs  of  the  Exchange.  The

       Governing  Board  consists  of  9 elected  directors,  who  are  from  the

       broking  community  (one  third  of them  retire  ever  year  by  rotation),

       three  SEBI  nominees,  six  public representatives  and  an  Executive

       Director  &  Chief  Executive  Officer and  a  Chief  Operating  Officer .

        

The Executive Director  as  the  Chief Executive Officer  is  responsible    for

the day-to-day administration  of  the  Exchange  and  the  Chief  Operating

 and  other  Heads  of Department assist him.

The Exchange has  inserted  new Rule No.126  A in  its Rules,  Byelaws  pertaining  to constitution of the Executive Committee of the Exchange. Accordingly, an Executive Committee,  consisting  of  three  elected  directors,  three  SEBI  nominees  or  public representatives,  Executive  Director  &  CEO  and  Chief  Operating  Officer  has  been constituted.  The  Committee  considers  judicial  &  quasi  matters  in  which  the Governing  Board  has  powers  as  an  Appellate  Authority,  matters  regarding annulment  of  transactions,  admission,  continuance  and  suspension  of  member-brokers,  declaration  of a  member-broker as defaulter, norms, procedures and  other matters relating to arbitration, fees, deposits, margins and  other monies payable by the member-brokers to the Exchange, etc.