Cochin Stock Exchange (CSE orCoSE) was an Indian stock exchange inKochi,Kerala fully owned byGovernment of India. It was incorporated in 1978. At its peak, it had almost 500 Indian companies listed, and with a daily turnover of₹70–₹100 crore (equivalent to₹596 crore or US$70 million in 2023), it was the fourth largest exchange in India.[1]
Cochin Stock Brokers, which provides trading facilities on theBombay Stock Exchange, andCSE Institute, an educational organisation, continue to operate beyond the closure of the exchange.
Cochin Stock Exchange was established in 1978.[2]
During the 1990s, it was the fourth largest exchange in India by turnover, with a daily turnover of₹70–₹100 crore (equivalent to₹596 crore or US$70 million in 2023), with 476 Indian companies listed.[3][4]
Computerized trading was introduced in 1997. The major back office system software used are NESS and BOSS respectively for NSE and BSE. The trading software used in CSBL wasMultex, developed byCMC.[5] Traders are provided Meta Stock and ERS software, trading terminals and optical fiber connections.[6] DP holdings are maintained by demat services likeCDSL.
The new millennium saw the stock exchange building being shifted from the old structure to a brand new building in the Kaloor area in northern Kochi.
Trading hours historically used to begin late in the afternoon enabling access to traders from other regions of the state. Base Minimum Capital required to be maintained is Rs. 2 lakhs.[7]
The securities scam of the early nineties led theSecurities and Exchange Board of India (SEBI) regulations on stock exchanges requires separation of ownership and trading rights and made it mandatory for majority ownership rests with the public, those without any trading rights.[8]
The exchange stopped trading in 2005, and closing procedures after the SEBI introduced a minimum net worth requirement of₹100 crore (equivalent to₹170 crore or US$20 million in 2023) and a turnover of₹1,000 crore (equivalent to₹17 billion or US$200 million in 2023) for stock exchanges to continue operation in 2013. It was in the final stages of closure by May 2014.[9]
Industrialisation did not happen in Kerala to the extent as in other Indian states. The reasons for the failure to attract manufacturing industries was due to the political climate and the lack of resources in a small state with such a large population density. The stock exchange served as a channel for investors to find investment opportunities.[4]
Cochin Stock Brokers Limited (CSBL) previously wholly owned byGovernment of India, is a corporate member of theNational Stock Exchange of India and theBombay Stock Exchange, enabling CSBL users to have trading facilities in these listings.[10]
CSE Institute is an organisation that provides stock market training for investors.
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