bse vs nasdaq
TRANSCRIPT
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BSE V/S NASDAQ 1
KC COLLEGE
Table Of Contents
Sr. No Topic Pg No.
1. World Federation OF Exchanges 2
2. Bombay Stock Exchange 3
3. Nasdaq 25
4. Correlation Between Bse & Nasdaq 41
5. Factors Affecting Share Prices 43
6. Subprime Crisis and its Impacts 48
7. Conclusion 55
8. Webliography 56
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BSE V/S NASDAQ 2
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World Federation Of Exchanges
The World Federation of Exchanges (WFE) ranks the stock exchanges of the
world. It is the trade association of 58 publicly regulated stock, futures andoptions exchanges. It sorts all the exchanges by size so as to identify the largest
stock exchanges in terms of various factors like market capitalization, number of
listed companies, total volume of shares, etc.
To be a member, exchanges must adhere to the WFE Membership Criteria.
Candidates are selected following a peer review. There are 2 Associates, 17
WFE Affiliates with separate professional relations and 31 exchanges which are
WFE Correspondents.
In 2012, the global market capitalization recovered with a 15.1% growth rateto USD 55 trillion.
The best performance in 2012 was observed in the Americas (+17.2%)
followed by Asia-Pacific (+15.4%) and EAME (+11.6%).
In the Americas, the growth was mainly driven by the US exchanges that
increased 19% while Canada increased slightly less (8%) and contrasted
trends were observed in Latin American countries.
Despite the good performance of market capitalization in 2012, the Electronic
Order Book (EOB) turnover value declined by 22.5%. All the regions were
affected by this trading volumes drop :EAME (-24.1%),Americas (- 23.2%) and Asia Pacific (-20%).
The global number of trades also decreased significantly in 2012, but in Asia
Pacific and EAME, the decrease was less pronounced than for the value of
share trading.
In 2012, the average transaction size (weighted by value of share trading)
slightly increased from USD 8100 to 8300.
Regional and total WFE domestic equity market capitalization performances
at year end 2012 compared to year end 2011.
Time Zone USD bn
End 2012
USD bn
End 2011
% change
in USD
Americas 23 193 19 789 17.2%
AsiaPacific 16 929 14 670 15.4%
Europe Africa Middle East 14 447 12 942 11.6%
Total WFE 54 570 47 041 15.1%
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Bombay Stock Exchange
History
Bombay Stock Exchange, commonly referred to as the BSE, is a stock exchange
located onDalal Street,Mumbai,Maharashtra,India.
Established in 1875, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd.), is
Asias first Stock Exchange and one of Indias leading exchange groups. Over the
past 137 years, BSE has facilitated the growth of the Indian corporate sector by
providing it an efficient capital-raising platform. Popularly known as BSE, the bourse
was established as "The Native Share & Stock Brokers' Association" in 1875.
The Bombay Stock Exchange is the oldest exchange in India. It traces its history tothe 1855, when four Gujarati and one Parsi stockbroker would gather under banyan
trees in front of Mumbai's Town Hall. The location of these meetings changed many
times, as the number of brokers constantly increased. The group eventually moved
to Dalal Street in 1874 and in 1875 became an official organization known as 'The
Native Share & Stock Brokers Association'.
In 1958, the BSE became the first stock exchange to be recognized by the Indian
Government under the Securities Contracts Regulation Act. In 1980 the exchange
moved the Phiroze Jeejeebhoy Towers at Dalal Street, Fort area. In 1986 it
developed the BSE SENSEX index, giving the BSE a means to measure overall
performance of the exchange. In 2000 the BSE used this index to open its
derivatives market, trading SENSEX futures contracts. The development of SENSEX
options along with equity derivatives followed in 2001 and 2002, expanding the
BSE's trading platform.
Historically an open outcry floor trading exchange, the Bombay Stock Exchange
switched to an electronic trading system in 1995. It took the exchange only fifty days
to make this transition. This automated, screen-based trading platform called BSE
On-line trading (BOLT) had a capacity of 8 million orders per day. The BSE has alsointroduced the world's first centralized exchange-based internet trading system,
BSEWEBx.co.in to enable investors anywhere in the world to trade on the BSE
platform.
http://en.wikipedia.org/wiki/Stock_exchangehttp://en.wikipedia.org/wiki/Dalal_Streethttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indian_Governmenthttp://en.wikipedia.org/wiki/Indian_Governmenthttp://en.wikipedia.org/wiki/Phiroze_Jeejeebhoy_Towershttp://en.wikipedia.org/wiki/Dalal_Streethttp://en.wikipedia.org/wiki/Fort_%28Mumbai_precinct%29http://en.wikipedia.org/wiki/BSE_SENSEXhttp://en.wikipedia.org/wiki/Screen-based_tradinghttp://bsewebx.co.in/http://bsewebx.co.in/http://en.wikipedia.org/wiki/Screen-based_tradinghttp://en.wikipedia.org/wiki/BSE_SENSEXhttp://en.wikipedia.org/wiki/Fort_%28Mumbai_precinct%29http://en.wikipedia.org/wiki/Dalal_Streethttp://en.wikipedia.org/wiki/Phiroze_Jeejeebhoy_Towershttp://en.wikipedia.org/wiki/Indian_Governmenthttp://en.wikipedia.org/wiki/Indian_Governmenthttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Maharashtrahttp://en.wikipedia.org/wiki/Mumbaihttp://en.wikipedia.org/wiki/Dalal_Streethttp://en.wikipedia.org/wiki/Stock_exchange -
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Milestones
In its 137-year glorious history, BSE has crossed several milestones and been a
driver of several key initiatives and developments in the Indian capital market.
1830 to 1875
1830's Business on corporate stocks and shares in Bank and Cotton presses
started in Bombay.
1860-1865 Cotton price bubble as a result of the American Civil War.
1870 - 90's Sharp increase in share prices of jute industries followed by a
boom in tea stocks and coal
1875 To 1995
9th Jul 1875 The Native Share & Stock Broker's Association formed 2nd Feb 1921 Clearing House started by Bank of India
31st Aug 1957 BSE granted permanent recognition under Securities
Contracts (Regulation) Act (SCRA)
2nd Jan 1986 SENSEX, country's first equity index launched (Base Year:
1978-79 =100)
10th Jul 1987 Investor's Protection Fund (IPF) introduced
3rd Jan 1989 BSE Training Institute (BTI) inaugurated
25th Jul 1990 SENSEX closes above 1000
15th Jan 1992 SENSEX closes above 2000 30th Mar 1992 SENSEX closes above 4000
1 May 1992 SEBI Act established (An Act to protect, develop and regulate the
securities market)
29 May 1992 Capital Issues (Control) Act repealed
1992 Securities Appellate Tribunal (SAT) established
14th Mar 1995 BSE On-Line Trading (BOLT) system introduced
1996 To 2000
19th Aug 1996 First major SENSEX revamp
12 May 1997 Trade Guarantee Fund (TGF) introduced
21st Jul 1997 Brokers Contingency Fund (BCF) introduced
1997 BSE On-Line Trading (BOLT) system expanded nation-wide
22nd Mar 1999Central Depository Services Limited (CDSL) set up with other
financial institutions
1st Jun 1999 Interest Rate Swaps (IRS) / Forward Rate Agreements (FRA)
allowed
15th Jul 1999 CDSL commences work
11th Oct 1999 SENSEX closed above 5000 9th Jun 2000 Equity Derivatives introduced
http://en.wikipedia.org/wiki/Central_Depository_Services_Limitedhttp://en.wikipedia.org/wiki/Interest_Rate_Swaphttp://en.wikipedia.org/wiki/Forward_Rate_Agreementhttp://en.wikipedia.org/wiki/Forward_Rate_Agreementhttp://en.wikipedia.org/wiki/Interest_Rate_Swaphttp://en.wikipedia.org/wiki/Central_Depository_Services_Limited -
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2001 To 2005
1st Mar 2001 Corporatisation of Exchanges proposed by the Union Govt.
1st Feb 2001 BSE Webx Launched
1st Jun 2001 Index Options launched
4th Jun 2001 BSE PSU index introduced
15th Jun 2001 WDM operations at commenced
2nd Jul 2001VaR model introduced for margin requirement calculation
9th Jul 2001 Stock options launched
11th Jul 2001 BSE Teck launched, Indias First free float index
25th Jul 2001 Dollex 30 launched
1st Nov 2001 Stock futures launched
29th Nov 2001 100% book building allowed 31st Dec 2001 All securitiesclearing move to T+5 (trade date + 5 days)
1st Feb 2002 Two way fungibility for ADR/GDR
15th Feb 2002 Negotiated Dealing System (NDS) established
1st Apr 2002 T+3 settlement Introduced
1st Jan 2003 Indias first ETF on SENSEX - SPICE' introduced
16th Jan 2003 Retail trading in G Sec
1st Apr 2003 T+2 settlement Introduced
1st June 2003 Bankex launched
1st Sep 2003 SENSEX shifted to free-float methodology 1st Dec 2003 T group launched
2nd Jun 2004 SENSEX closes over 6000 for the first time (564.71 points,
11.14%)
17th May 2004 Second biggest fall of all time, Circuit filters used twice in a
day (the Scheme) announced by SEBI
20th May 2005 The BSE (Corporatisation and Demutualisation) Scheme,
2005
8th Aug 2005 Incorporation of Bombay Stock Exchange Limited
12th Aug 2005 Certificate of Commencement of Business
19th Aug 2005 BSE becomes a Corporate Entity
http://en.wikipedia.org/wiki/VaRhttp://en.wikipedia.org/wiki/Clearing_%28finance%29http://en.wikipedia.org/wiki/Clearing_%28finance%29http://en.wikipedia.org/wiki/VaR -
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2006 To 2010
7th Feb 2006 SENSEX closed above 10000
7th Jul 2006 BSE Gujarati website launched
21st Oct 2006 BSE Hindi website launched
2nd Nov 2006 iShares BSE SENSEX India Tracker listed at Hong Kong Stock
Exchange
2nd Jan 2007 Launch of Unified Corporate Bond Reporting platform: Indian
Corporate Debt Market (ICDM)
7th Mar 2007 Singapore Exchange Limited entered into an agreement to
invest in a 5% stake in BSE
16th May 2007 Appointed Date under the Scheme i.e. Date on which
Corporatisaton and Demutualisation was achieved. Notified by SEBI in the
Official Gazette on 29.06.2007
10th Jan 2008 SENSEX All-time high 21206.77 1st Oct 2008 Currency Derivatives Introduced
18 May 2009 The SENSEX raised 2110.70 points (17.34%) and Index-wide
upper circuit breaker applied
7th Aug 2009 BSE - USE Form Alliance to Develop Currency & Interest Rate
24th Aug 2009 BSE IPO Index launched
1st Oct 2009 Bombay Stock Exchange introduces trade details facility for the
Investors
5th Oct 2009 BSE Introduces New Transaction Fee Structure for Cash Equity
Segment 25th Nov 2009 BSE launches FASTRADE - a new market access platform
4th Dec 2009 BSE Launches BSE StAR MFMutual Fund trading platform
7th Dec 2009 Launch of clearing and settlement of Corporate Bonds through
Indian Clearing Corporation Ltd.
18th Dec 2009 BSE's new derivatives rates to lower transaction costs for all
4th Jan 2010 Market time changed to 9.0 a.m. - 3.30 p.m.
20th Jan 2010 BSE PSU website launched
22nd Apr 2010 New DBM framework @ Rs.10 lakhs - 90% reduction in
Membership Deposit
12 May 2010 Dissemination of Corporate Action information via SWIFT
platform
23 July 2010 Options on BOLT
29th Sep 2010 Introduction of Smart Order Routing (SOR)
4th Oct 2010 EUREX - SENSEX Futures launch
11th Oct 2010 Launch of Fastrade on Web (FoW) - Exchange hosted platform
5th Nov 2010 SENSEX closes above 21,000 for the first time
12th Nov 2010 Commencement of Volatility Index
22nd Nov 2010 Launch of SLB
10th Dec 2010 Launch of SIP 27th Dec 2010 Commencement of Shariah Index
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2011 To 2013
17th Nov 2011 Maharashtra and United Kingdom Environment Ministers
launched Concept Note for BSE Carbon Index 7th Jan 2011 BSE Training Institute Ltd. with IGNOU launched India's first 2
year full-time MBA programme specialising in Financial Market
15th Jan 2011 Co-location facility at BSE - tie up with Netmagic
22nd Feb 2012 Launch of BSE-GREENEX to promote investments in Green
India
13th Mar 2012 Launch of BSE - SME Exchange Platform
30th Mar 2012 BSE launched trading in BRICSMART indices derivatives
19 February 2013 - SENSEX becomes S&P SENSEX as BSE ties up with
Standard and Poor's to use the S&P brand for Sensex and other indices
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Board Of Directors
Name Designation
Mr. S. Ramadorai Non-Executive
Chairman
Vice Chairman, Tata
Consultancy Services
Mr. Ashishkumar Chauhan Managing Director &
CEO
Mr. Sudhakar Rao Public Interest Director
Dr. Sanjiv Misra Public Interest Director
IAS (Retd.)
Mr. S.H. Kapadia Public Interest Director (Former CJI)
Mr. Keki M. Mistry Shareholder Directors Vice-Chairman &
CEO HDFC Ltd.
Mr. Andreas Preuss Shareholder Directors Deputy CEO
Deutsche Borse AG
Mr. Thomas Bendixen Shareholder Directors Alternate Director toMr. Andreas Preuss
http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1http://www.bseindia.com/static/about/boardofdirectors.aspx?expandable=1 -
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Need For BSE
BSE is one of the factors Indian Economy depends upon. BSE has played a major
role in the development of the country. Through BSE, Foreign Investors have
invested in India. Due to inward flow of foreign currency the, the Indian economies
have started showing the upward trend towards the development of the country.
BSE provides employment for many people. Trading in BSE is also a business for a
few, their family income depends on it that is the reason why when scandals occur in
the stock market it not only affects the companies listed but also affects many
families. In the few extreme cases, it is observed that the bread winner of a family
tends to suicide due to the losses occurred.
In most of major industrial cities all over the world, where the businesses were
evolving and required investment capital to grow and thrive, stock exchanges acted
as the interface between Suppliers and Consumers of capital. One of the key
advantages of the stock exchanges is that they are efficient medium for raising
resources and channeling savings from the general public by the way of issue of
Equity / Debt Capital by joint stock companies which are listed on stock exchanges.
Not to forget that the taxes and other statutory charges paid by BSE are substantial
and make a sizeable contribution to the Government exchequer (Financial
resources; funds). For example, transactions on the stock exchanges are subject to
stamp duties, which are paid to the State Government. The annual revenue from this
source ranges from Rs 75100 crores
With the opening up of the financial markets to Foreign Investors a number of foreign
institutional investors and brokers have established a sizeable presence in Mumbai.
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S&P BSE SENSEX
The S&P BSE SENSEX (S&P Bombay Stock Exchange Sensitive Index), also-called
the BSE 30 or simply the SENSEX, is a free-float market capitalization-weighted
stock market index of 30 well-established and financially sound companies listed onBSE Ltd. The 30 component companies which are some of the largest and most
actively traded stocks, are representative of various industrial sectors of the Indian
economy. Published since 1 January 1986, the S&P BSE SENSEX is regarded as
the pulse of the domestic stock markets in India. The base value of the S&P BSE
SENSEX is taken as 100on 1 April 1979, and its base year as 197879.
The term Sensex was coined byDeepak Mohoni,a stock market analyst.
INDICES OF BSE
Index Watch
As On 16 Sep 13 | 03:26 PM
Category/Index 52 Week Full Market
Capitalisation
Turnover
High Low ( Cr. ) % to
Total
Mkt Cap
( Cr. ) % to Total
Turnover
BroadS&P BSE SENSEX 20443.62 17448.71 3279201.89 52.86 475.84 26.85
S&P BSE MID CAP 7391.34 5118.74 818193.21 13.19 374.34 21.12
S&P BSE SMALL
CAP
7696.74 5085.56 271648.68 4.38 140.37 7.92
S&P BSE 100 6246.37 5116.81 4812209.76 77.57 1242.77 70.11
S&P BSE 200 2509.17 2041.82 5540128.95 89.30 1555.14 87.74
S&P BSE 500 7792.70 6301.27 6054239.42 97.59 1711.96 96.58
Thematic
S&P BSE GREENEX 1662.83 1383.18 1803629.60 29.07 333.95 18.84S&P BSE
CARBONEX
1014.36 0.00 4812209.76 77.57 1242.77 70.11
Investment
Strategies
S&P BSE IPO -- -- 48639.24 0.78 12.06 0.68
S&P BSE SME IPO 352.26 130.59 1985.92 0.03 1.19 0.07
S&P BSE DOLLEX 30 29773.40 2173.28 126029.80 2.03 10.38 0.59
S&P BSE DOLLEX
100
11432.70 802.04 11568.08 0.19 1.00 0.06
S&P DOLLEX 200 7397.09 514.37 126029.80 2.03 10.38 0.59
http://en.wikipedia.org/wiki/Capitalization-weighted_indexhttp://en.wikipedia.org/wiki/Stock_market_indexhttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Deepak_Mohonihttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=16&iname=BSE30http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=59&iname=MIDCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=60&iname=SMLCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=60&iname=SMLCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=22&iname=BSE100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=23&iname=BSE200http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=17&iname=BSE500http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=75&iname=GREENXhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=77&iname=CARBONhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=77&iname=CARBONhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=72&iname=BSEIPOhttp://www.bseindia.com/indices/sme_ipo.aspx?page=531BB8D5-6CB9-4ABC-8791-378F12A70B60http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=47&iname=DOL30http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=65&iname=DOL100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=65&iname=DOL100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=65&iname=DOL100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=65&iname=DOL100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=47&iname=DOL30http://www.bseindia.com/indices/sme_ipo.aspx?page=531BB8D5-6CB9-4ABC-8791-378F12A70B60http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=72&iname=BSEIPOhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=77&iname=CARBONhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=77&iname=CARBONhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=75&iname=GREENXhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=17&iname=BSE500http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=23&iname=BSE200http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=22&iname=BSE100http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=60&iname=SMLCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=60&iname=SMLCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=59&iname=MIDCAPhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=16&iname=BSE30http://en.wikipedia.org/wiki/Deepak_Mohonihttp://en.wikipedia.org/wiki/Industryhttp://en.wikipedia.org/wiki/Stock_market_indexhttp://en.wikipedia.org/wiki/Capitalization-weighted_index -
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Sectorial
S&P BSE BANKEX 15335.89 9535.75 589605.41 9.50 296.75 16.74
S&P BSE FMCG 7600.05 439.19 614519.27 9.91 95.78 5.40
S&P BSE AUTO 11868.56 9656.39 351162.54 5.66 64.14 3.62
S&P BSE PSU 7945.26 4774.97 1247785.76 20.11 231.27 13.05S&P BSE
CONSUMER
DURABLES
8221.12 5358.18 40615.78 0.65 10.45 0.59
S&P BSE POWER 2113.73 1315.62 352512.87 5.68 79.30 4.47
S&P BSE OIL & GAS 9890.89 7552.19 762433.83 12.29 72.53 4.09
S&P BSE METAL 11510.14 6353.75 457361.09 7.37 110.81 6.25
S&P BSE CAPITAL
GOODS
11408.58 6718.83 191328.22 3.08 58.58 3.30
S&P BSE TECK 4571.07 3268.17 1112564.98 17.93 180.13 10.16S&P BSE REALTY 2326.78 1126.84 61317.76 0.99 50.44 2.85
S&P BSE IT 8154.14 5496.03 796446.79 12.84 125.92 7.10
S&P BSE
HEALTHCARE
9509.52 7315.20 356446.92 5.75 285.85 16.13
Volatility Index
S&P BSE REALVOL-
1MTH
-- -- -- -- -- --
S&P BSE REALVOL-
2MTH
-- -- -- -- -- --
S&P BSE REALVOL-
3MTH
-- -- -- -- -- --
Thematic
S&P BSE 500
SHARIAH
-- -- 6407205.68 -- -- --
http://www.bseindia.com/indices/indiceswatch.aspx?index_Code=53&iname=BANKEXhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=29&iname=BSEFMCGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=42&iname=AUTOhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=44&iname=BSEPSUhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=69&iname=POWERhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=37&iname=OILGAShttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=35&iname=METALhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=25&iname=BSECGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=25&iname=BSECGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=45&iname=TECKhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=67&iname=REALTYhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=33&iname=BSEIThttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=31&iname=BSEHChttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=31&iname=BSEHChttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/RealVol.aspxhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=31&iname=BSEHChttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=31&iname=BSEHChttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=33&iname=BSEIThttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=67&iname=REALTYhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=45&iname=TECKhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=25&iname=BSECGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=25&iname=BSECGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=35&iname=METALhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=37&iname=OILGAShttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=69&iname=POWERhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=27&iname=BSECDhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=44&iname=BSEPSUhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=42&iname=AUTOhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=29&iname=BSEFMCGhttp://www.bseindia.com/indices/indiceswatch.aspx?index_Code=53&iname=BANKEX -
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Components
The BSE Sensex currently consists of the following 30 major Indian companies
which are as follows :
Company Industry
1 Housing Development Finance Corporation Consumer finance
2 Cipla Pharmaceuticals
3 Bharat Heavy Electricals Electrical equipment
4 State Bank Of India Banking
5 HDFC Bank Banking
6 Hero Motocorp Automotive
7 Infosys Information Technology
8 Oil and Natural Gas Corporation Oil and gas
9 Reliance Industries Oil and gas
10 Tata Power Power
11 Hindalco Industries Metals and Mining
12 Tata Steel Steel
13 Larsen & Toubro Conglomerate
14 Mahindra & Mahindra Automotive
15 Tata Motors Automotive
16 Hindustan Unilever Consumer goods
17 ITC Conglomerate
18 Sterlite Industries Metals and Mining
19 Wipro Information Technology
20 Sun Pharmaceutical Pharmaceuticals
http://en.wikipedia.org/wiki/Housing_Development_Finance_Corporationhttp://en.wikipedia.org/wiki/Housing_Development_Finance_Corporationhttp://en.wikipedia.org/wiki/Ciplahttp://en.wikipedia.org/wiki/Ciplahttp://en.wikipedia.org/wiki/Bharat_Heavy_Electricalshttp://en.wikipedia.org/wiki/Bharat_Heavy_Electricalshttp://en.wikipedia.org/wiki/State_Bank_Of_Indiahttp://en.wikipedia.org/wiki/State_Bank_Of_Indiahttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/Hero_Motocorphttp://en.wikipedia.org/wiki/Hero_Motocorphttp://en.wikipedia.org/wiki/Infosyshttp://en.wikipedia.org/wiki/Infosyshttp://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporationhttp://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporationhttp://en.wikipedia.org/wiki/Reliance_Industrieshttp://en.wikipedia.org/wiki/Reliance_Industrieshttp://en.wikipedia.org/wiki/Tata_Powerhttp://en.wikipedia.org/wiki/Tata_Powerhttp://en.wikipedia.org/wiki/Hindalco_Industrieshttp://en.wikipedia.org/wiki/Hindalco_Industrieshttp://en.wikipedia.org/wiki/Tata_Steelhttp://en.wikipedia.org/wiki/Larsen_%26_Toubrohttp://en.wikipedia.org/wiki/Larsen_%26_Toubrohttp://en.wikipedia.org/wiki/Mahindra_%26_Mahindrahttp://en.wikipedia.org/wiki/Mahindra_%26_Mahindrahttp://en.wikipedia.org/wiki/Tata_Motorshttp://en.wikipedia.org/wiki/Tata_Motorshttp://en.wikipedia.org/wiki/Hindustan_Unileverhttp://en.wikipedia.org/wiki/Hindustan_Unileverhttp://en.wikipedia.org/wiki/ITC_Limitedhttp://en.wikipedia.org/wiki/Sterlite_Industrieshttp://en.wikipedia.org/wiki/Sterlite_Industrieshttp://en.wikipedia.org/wiki/Wiprohttp://en.wikipedia.org/wiki/Sun_Pharmaceuticalhttp://en.wikipedia.org/wiki/Sun_Pharmaceuticalhttp://en.wikipedia.org/wiki/Wiprohttp://en.wikipedia.org/wiki/Sterlite_Industrieshttp://en.wikipedia.org/wiki/ITC_Limitedhttp://en.wikipedia.org/wiki/Hindustan_Unileverhttp://en.wikipedia.org/wiki/Tata_Motorshttp://en.wikipedia.org/wiki/Mahindra_%26_Mahindrahttp://en.wikipedia.org/wiki/Larsen_%26_Toubrohttp://en.wikipedia.org/wiki/Tata_Steelhttp://en.wikipedia.org/wiki/Hindalco_Industrieshttp://en.wikipedia.org/wiki/Tata_Powerhttp://en.wikipedia.org/wiki/Reliance_Industrieshttp://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporationhttp://en.wikipedia.org/wiki/Infosyshttp://en.wikipedia.org/wiki/Hero_Motocorphttp://en.wikipedia.org/wiki/HDFC_Bankhttp://en.wikipedia.org/wiki/State_Bank_Of_Indiahttp://en.wikipedia.org/wiki/Bharat_Heavy_Electricalshttp://en.wikipedia.org/wiki/Ciplahttp://en.wikipedia.org/wiki/Housing_Development_Finance_Corporation -
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21 GAIL Oil and gas
22 ICICI Bank Banking
23 Jindal Steel & Power Steel and power
24 Bharti Airtel Telecommunication
25 Maruti Suzuki Automotive
26 Tata Consultancy Services Information Technology
27 NTPC Power
28 DLF
Real estate
29 Bajaj Auto Automotive
30 Coal India Metals and Mining
Calculation
The BSE constantly reviews and modifies its composition to be sure it reflectscurrent market conditions. The index is calculated based on a free float capitalisation
method, a variation of the market capitalisation method. Instead of using a
company's outstanding shares it uses its float, or shares that are readily available for
trading. As per free float capitalisation methodology, the level of index at any point of
time reflects the free float market value of 30 component stocks relative to a base
period. The market capitalisation of a company is determined by multiplying the price
of its stock by the number of shares issued by of corporate actions, replacement of
scrips, etc.
The index has increased by over ten times from June 1990 to the present. Using
information from April 1979 onwards, the long-run rate of return on the S&P BSE
SENSEX works out to be 18.6% per annum, which translates to roughly 9% per
annum.
http://en.wikipedia.org/wiki/GAILhttp://en.wikipedia.org/wiki/ICICI_Bankhttp://en.wikipedia.org/wiki/Jindal_Steel_%26_Powerhttp://en.wikipedia.org/wiki/Jindal_Steel_%26_Powerhttp://en.wikipedia.org/wiki/Bharti_Airtelhttp://en.wikipedia.org/wiki/Maruti_Suzukihttp://en.wikipedia.org/wiki/Maruti_Suzukihttp://en.wikipedia.org/wiki/Tata_Consultancy_Serviceshttp://en.wikipedia.org/wiki/Tata_Consultancy_Serviceshttp://en.wikipedia.org/wiki/NTPC_Limitedhttp://en.wikipedia.org/wiki/DLF_Limitedhttp://en.wikipedia.org/wiki/DLF_Limitedhttp://en.wikipedia.org/wiki/Bajaj_Autohttp://en.wikipedia.org/wiki/Bajaj_Autohttp://en.wikipedia.org/wiki/Coal_Indiahttp://en.wikipedia.org/wiki/Coal_Indiahttp://en.wikipedia.org/wiki/Bajaj_Autohttp://en.wikipedia.org/wiki/DLF_Limitedhttp://en.wikipedia.org/wiki/NTPC_Limitedhttp://en.wikipedia.org/wiki/Tata_Consultancy_Serviceshttp://en.wikipedia.org/wiki/Maruti_Suzukihttp://en.wikipedia.org/wiki/Bharti_Airtelhttp://en.wikipedia.org/wiki/Jindal_Steel_%26_Powerhttp://en.wikipedia.org/wiki/ICICI_Bankhttp://en.wikipedia.org/wiki/GAIL -
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Hours Of Operation
Session Timing
Pre-open Trading Session 09:00 - 09:15
Trading Session 09:15 - 15:30
Position Transfer Session 15:30 - 15:55
Closing Session 15:50 - 16:05
Option Exercise Session 16:07
The hours of operation for the BSE quoted above are stated in terms the local time
(GMT + 5:30). BSE's normal trading sessions are on all days of the week except
Saturday, Sundays and holidays declared by the Exchange in advance.
Particulars For The Year
Ended March 31,
2013 (Audited)
I. INCOME
a) Operating Income 24,079
b) Investments and Deposits Income 26,956
c) Other Income 4,245
Total Income 55,280
II. EXPENDITURE
a) Employee Costs 8,009
b) Computer Technology Related Expenses 7,149
c) Administration and Other Expenses 9,035
d) Depreciation and Amortisation 2,831
Total Expenditure 27,024
III. Profit from operations before Prior Period items,
Interest, Exceptional items & Tax
28,256
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IV. Profit from operations before Interest, Exceptional
items & Tax
27,229
a) Interest 245
V. Profit from operations before Exceptional items &
Tax
26,984
a) Exceptional Items (Note 2) 9,791
VI. Profit from operations before Tax 17,193
a) Extraordinary Item 73
VII. Profit before tax 17,120
a) Tax Expenses 3,745
VIII. Net Profit For The Quarter/Year after tax but before
Minority Interest & Share of associates
13,375
Share of Profit / (Loss ) of Associate (Net) (33)
Share of Minority (2,485)
IX. Net Profit For The Quarter/Year 10,857
Paid up Equity Capital (Face Value Per Share 1 Each) 1,037
Reserves (Excluding Revaluation Reserve) 227,938
Basic and Diluted EPS before Extraordinary Item (ReferNote Below)
10.34
Basic and Diluted EPS after Extraordinary Item (Refer Note
Below)
10.25
Note:Basic and Diluted EPS is not annualised for the quarter ended results.
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Trading
Timing
Trading on the BOLT System is conducted from Monday to Friday between 9:15
a.m. and 3:30 p.m. normally. Refer Notice No. 20101014-8 for call auction.
Groups
The scrips traded on BSE have been classified into various groups.
BSE has, for the guidance and benefit of the investors, classified the scrips in theEquity Segment into 'A', 'B', 'T' and 'Z' groups on certain qualitative and quantitativeparameters.
The "F" Group represents the Fixed Income Securities.
The "T" Group represents scrips which are settled on a trade-to-trade basis as asurveillance measure.
Trading in Government Securities by the retail investors is done under the "G" group.
The 'Z' group was introduced by BSE in July 1999 and includes companies whichhave failed to comply with its listing requirements and/or have failed to resolveinvestor complaints and/or have not made the required arrangements with both thedepositories, viz., Central Depository Services (I) Ltd. (CDSL) and National
Securities Depository Ltd. (NSDL) for dematerialization of their securities.
BSE also provides a facility to the market participants for on-line trading of odd-lotsecurities in physical form in 'A', 'B', 'T' and 'Z' groups and in rights renunciations inall groups of scrips in the Equity Segment.
With effect from December 31, 2001, trading in all securities listed in the Equitysegment takes place in one market segment, viz., Compulsory Rolling SettlementSegment (CRS).
The scrips of companies which are in demat can be traded in market lot of 1.
However, the securities of companies which are still in the physical form are tradedin the market lot of generally either 50 or 100. Investors having quantities ofsecurities less than the market lot are required to sell them as "Odd Lots". Thisfacility offers an exit route to investors to dispose of their odd lots of securities, andalso provides them an opportunity to consolidate their securities into market lots.
This facility of selling physical shares in compulsory demat scrips is called an ExitRoute Scheme. This facility can also be used by small investors for selling up to 500shares in physical form in respect of scrips of companies where trades are requiredto be compulsorily settled by all investors in demat mode.
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Listed Securities
The securities of companies, which have signed the Listing Agreement with BSE, aretraded as "Listed Securities". Almost all scrips traded in the Equity segment fall inthis category.
Permitted Securities
To facilitate the market participants to trade in securities of such companies, whichare actively traded at other stock exchanges but are not listed on BSE, trading insuch securities is facilitated as " Permitted Securities" provided they meet therelevant norms specified by BSE
Tick Size:
Tick size is the minimum difference in rates between two orders on the same side
i.e., buy or sell, entered in the system for particular scrip. Trading in scrips listed onBSE is done with the tick size of 5 paise.
However, in order to increase the liquidity and enable the market participants to putorders at finer rates, BSE has reduced the tick size from 5 paise to 1 paise in case ofunits of mutual funds, securities traded in "F" group and equity shares having closingprice up to Rs. 15 on the last trading day of the calendar month. Accordingly, the ticksize in various scrips quoting up to Rs.15 is revised to 1 paise on the first trading dayof month. The tick size so revised on the first trading day of month remainsunchanged during the month even if the price of scrips undergoes a change.
Computation Of Closing Price Of Scrips
The closing price of scrips is computed by BSE on the basis of weighted averageprice of all trades executed during the last 30 minutes of a continuous tradingsession. However, if there is no trade recorded during the last 30 minutes, then thelast traded price of scrip in the continuous trading session is taken as the officialclosing price.
Basket Trading System
BSE has commenced trading in the Derivatives Segment with effect from June 9,2000 to enable investors to hedge their risks. Initially, the facility of trading in theDerivatives Segment was confined to Index Futures. Subsequently, BSE hasintroduced the Index Options and Options & Futures in select individual stocks.
Investors in the cash market had felt a need to limit their risk exposure in the marketto the movement in S&P BSE SENSEX. With a view to provide investors the facilityof creating S&P BSE SENSEX-linked portfolios and also to create a linkage ofmarket prices of the underlying securities of S&P BSE SENSEX in the CashSegment and Futures on S&P BSE SENSEX, BSE has provided to the investors aswell as to its Members a facility of Basket Trading System on BOLT with effect from
August 14, 2000. In the Basket Trading System, the investors through the Membersare able to buy/ sell all 30 scrips of S&P BSE SENSEX in one go in the proportion of
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their respective weights in the S&P BSE SENSEX. The investors need not calculatethe quantity of S&P BSE SENSEX scrips to be bought or sold for creating S&P BSESENSEX-linked portfolios and this function is performed by the system. Theinvestors can also create their own baskets by deleting certain scrips from 30 scripsin the S&P BSE SENSEX. Further, the investors can alter the weights of securities in
such profiled baskets and enter their own weights. The investors can also select lessthan 100% weightage to reduce the value of the basket as per their ownrequirements.
To participate in this system, the Members need to indicate the number of S&P BSESENSEX basket(s) to be bought or sold, where the value of one S&P BSE SENSEXbasket is arrived at by the system by multiplying Rs.50 to the prevailing S&P BSESENSEX. For example, if the S&P BSE SENSEX is 15,000, the value of one basketof S&P BSE SENSEX would be 15000 x 50= i.e., Rs. 7,50,000/-. The investors canalso place orders by entering value of S&P BSE SENSEX portfolio to be brought orsold with a minimum value of Rs. 50,000 for each order.
The Basket Trading System provides the arbitrageurs an opportunity to takeadvantage of price differences in the underlying S&P BSE SENSEX and Futures onthe S&P BSE SENSEX by simultaneous buying and selling of baskets comprisingthe S&P BSE SENSEX scrips in the Cash Segment and S&P BSE SENSEX Futures.This would provide a balancing impact on the prices in both cash and futuresmarkets.
The Basket Trading System thus meets the need of investors and also improves thedepth in cash and futures markets.
The trades executed under the Basket Trading System are subject to intra-daytrading and gross exposure limits available to the Members. The VaR, MTM marginsetc, as are applicable to normal trades in the Cash Segment, are also recoveredfrom the Members.
Clearing
Indian Clearing Corporation Limited (ICCL) was incorporated in 2007 as a whollyowned subsidiary of BSE Ltd. ICCL has been set up with an objective of promotingfinancial stability and integrity.
ICCL is working towards becoming a globally recognized CCP that clears and settlestrades for a multitude of diverse and sophisticated products. ICCL operates underthe regulation of both the Securities and Exchange Board of India (SEBI) and RBI(for select products).
Overseeing ICCL function is a professional management team ably guided by aBoard of Directors, consisting of a majority of Independent Directors and secondedwith nominee Directors from BSE offering their domain expertise.
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ICCLs Clearing Members serve both professional traders and retail customers andcomprise of the leading entities in the Indian financial sector. ICCLs goal is toservice the clearing members and stock exchanges, with emphasis on timely,reliable and cost-efficient clearing operations.
In its capacity as a Clearing Corporation, ICCL carries out the functions of clearing,settlement, collateral management and risk management for various segments ofdifferent stock exchanges. ICCL undertakes to act as the central counterparty to allthe trades it provides settlement for.
ICCL undertakes clearing and settlement activities for trades reported on the debtand mutual fund segments of BSE and for trades executed on all the other segmentsof BSE, including Equity Cash, Equity F&O, BSE SME, Offer for Sale, SecuritiesLending & Borrowing, etc. and the Currency Derivatives Segment (Currency F&O) ofUnited Stock Exchange (USE).
While over 20 banks are empanelled with ICCL as Clearing Banks for BSE activities,ten banks have been empanelled as Clearing Banks for providing clearing andsettlement services for trades executed on USE platform.
Settlement
Compulsory Rolling Settlement
All transactions in all groups of securities in the Equity segment and Fixed Incomesecurities listed on BSE are required to be settled on T+2 basis (w.e.f. from April 1,
2003). The settlement calendar, which indicates the dates of the various settlementrelated activities, is drawn by BSE in advance and is circulated among the marketparticipants.
Under rolling settlements, the trades done on a particular day are settled after agiven number of business days. A T+2 settlement cycle means that the finalsettlement of transactions done on T, i.e., trade day by exchange of monies andsecurities between the buyers and sellers respectively takes place on secondbusiness day (excluding Saturdays, Sundays, bank and Exchange trading holidays)after the trade day.
The transactions in securities of companies which have made arrangements fordematerialization of their securities are settled only in demat mode on T+2 on netbasis, i.e., buy and sell positions of a member-broker in the same scrip are nettedand the net quantity and value is required to be settled. However, transactions insecurities of companies, which are in "Z" group or have been placed under "trade-to-trade" by BSE as a surveillance measure ("T" group) , are settled only on a grossbasis and the facility of netting of buy and sell transactions in such scrips is notavailable.
The transactions in 'F' group securities representing "Fixed Income Securities" and "G" group representing Government Securities for retail investors are also settled at
BSE on T+2 basis.
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In case of Rolling Settlements, pay-in and pay-out of both funds and securities iscompleted on the same day.
Members are required to make payment for securities sold and/ or deliver securitiespurchased to their clients within one working day (excluding Saturday, Sunday, bank
& BSE trading holidays) after the pay-out of the funds and securities for theconcerned settlement is completed by BSE. This is the timeframe permitted to theMembers to settle their funds/ securities obligations with their clients as per theByelaws of BSE.
The following table summarizes the steps in the trading and settlement cycle forscrips under CRS :
DAY ACTIVITYT Trading on BOLT and daily downloading of statements showing details of
transactions and margins at the end of each trading day.
Downloading of provisional securities and funds obligation statements bymember-brokers.6A/7A* entry by the member-brokers/ confirmation by the custodians.
T+1 Confirmation of 6A/7A data by the Custodians upto 1:00 p.m. Downloadingof final securities and funds obligation statements by members
T+2 Pay-in of funds and securities by 11:00 a.m. and pay-out of funds andsecurities by 1:30 p.m. The member-brokers are required to submit the pay-in instructions for funds and securities to banks and depositoriesrespectively by 10:40 a.m.
T+2 Auction on BOLT at 2.00 p.m.
T+3 Auction pay-in and pay-out of funds and securities by 09:30 a.m. and 10:15a.m. respectively.
The pay-in and payout of funds and securities takes places on the second businessday (i.e., excluding Saturday, Sundays and bank and BSE trading holidays) of theday of the execution of the trade.
Surveillance
BSE is one of the few stock exchanges in the world, which has obtained the ISO
certification for its surveillance function. The main objective of the surveillancefunction is to promote market integrity in two ways,By monitoring price and volume movements (volatility) as well as by detectingpotential market abuses (fictitious/ artificial transactions, circular trading, false ormisleading impressions, insider trading, etc) at a ascent stage, with a view tominimizing the ability of the market participants to influence the price of any scrip inthe absence of any meaningful informationBy taking timely actions to manage default risk.
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The surveillance activities at BSE are allocated to three Cells:
Price Monitoring: is mainly related to the price movement/ abnormal
fluctuation in prices or volumes of any scrip
Investigations:conducting snap investigations/examinations/detailedinvestigations in scrips where manipulation /aberration is suspected.
Position Monitoring:relates mainly to abnormal positions of Members inorder to manage the default risk
Regulator
SEBI
Securities and Exchange Board of India (SEBI) is an apex body for overall
development and regulation of the securities market. It was set up on April 12, 1988 .
To start with, SEBI was set up as a non-statutory body. Later on it became a
statutory body under the Securities Exchange Board of India Act, 1992. The Act
entrusted SEBI with comprehensivepowers over practically all the aspects ofcapital
market operations.
Role Functions of SEBI
The role or functions of SEBI are discussed below.
1. To protect the interests of investors through proper education and guidance
as regards their investment in securities. For this, SEBI has made rules and
regulation to be followed by the financial intermediaries such as brokers, etc.
SEBI looks after the complaints received from investors for fair settlement. It
also issues booklets for the guidance and protection of small investors.
2. To regulate and control the business on stock exchanges and other security
markets. For this, SEBI keeps supervision on brokers. Registration of brokers
and sub-brokers is made compulsory and they are expected to follow certain
rules and regulations. Effective control is also maintained by SEBI on the
working of stock exchanges.
3. To make registration and to regulate the functioning of intermediaries such as
stock brokers, sub-brokers, share transfer agents, merchant bankers and
other intermediaries operating on the securities market. In addition, to provide
suitable training to intermediaries. This function is useful for healthy
atmosphere on the stock exchange and for the protection of small investors.
http://kalyan-city.blogspot.com/2010/11/powers-of-sebi-securities-and-exchange.htmlhttp://kalyan-city.blogspot.com/2010/09/what-is-capital-market-meaning.htmlhttp://kalyan-city.blogspot.com/2010/09/what-is-capital-market-meaning.htmlhttp://kalyan-city.blogspot.com/2011/03/what-is-business-meaning-definitions.htmlhttp://kalyan-city.blogspot.com/2010/11/what-is-stock-exchange-its-definitions.htmlhttp://kalyan-city.blogspot.com/2010/11/what-is-stock-exchange-its-definitions.htmlhttp://kalyan-city.blogspot.com/2011/03/what-is-business-meaning-definitions.htmlhttp://kalyan-city.blogspot.com/2010/09/what-is-capital-market-meaning.htmlhttp://kalyan-city.blogspot.com/2010/09/what-is-capital-market-meaning.htmlhttp://kalyan-city.blogspot.com/2010/11/powers-of-sebi-securities-and-exchange.html -
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4. To register and regulate the working of mutual funds including UTI (Unit Trust
of India). SEBI has made rules and regulations to be followed by mutual
funds. The purpose is to maintain effective supervision on their operations &
avoid their unfair and anti-investor activities.
5. To promote self-regulatory organization of intermediaries. SEBI is given widestatutory powers. However, self-regulation is better than external regulation.
Here, the function of SEBI is to encourage intermediaries to form their
professional associations and control undesirable activities of their members.
SEBI can also use its powers when required for protection of small investors.
6. To regulate mergers, takeovers and acquisitions of companies in order to
protect the interest of investors. For this, SEBI has issued suitable guidelines
so that such mergers and takeovers will not be at the cost of small investors.
7. To prohibit fraudulent and unfair practices of intermediaries operating on
securities markets. SEBI is not for interfering in the normal working of these
intermediaries. Its function is to regulate and control their objectional practiceswhich may harm the investors and healthy growth of capital market.
8. To issue guidelines to companies regarding capital issues. Separate
guidelines are prepared for first public issue of new companies, for public
issue by existing listed companies and for first public issue by existing private
companies. SEBI is expected to conduct research and publish information
useful to all market players (i.e. all buyers and sellers).
9. To conduct inspection, inquiries & audits of stock exchanges, intermediaries
and self-regulating organizations and to take suitable remedial measures
wherever necessary. This function is undertaken for orderly working of stockexchanges & intermediaries.
10. To restrict insider trading activity through suitable measures. This function is
useful for avoiding undesirable activities of brokers and securities scams.
Mergers & Acquisitions
The recent decision of the Reserve Bank of India (RBI) to allow foreign investment
up to 49 percent in stock exchanges, depositories and clearing corporations is hailed
as a good development for the securities industry.
Reflect on these recent developments:
- Deutsche Boerse, Europe's top stock exchange and transaction service provider
has signed an agreement to buy 5 percent equity in the Bombay Stock Exchange
(BSE) for $43 million. BSE is the oldest bourse in Asia. The deal values the
exchange at $910 million on an expanded equity base.
- Singapore Stock Exchange (SGX) says its short listed for BSE stake. It claimed
that it has been short listed to buy a 5 percent stake in the bourse. BSE isunderstood to have finalized its plans to have SGX as its second foreign partner.
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NASDAQ Stock Market Inc., London Stock Exchange Group PLC and NYSE Group
Inc. have also been touted as bidders for a stake in BSE.
- NASDAQ has reportedly expressed its keenness to pick up stake in BSE.
Indian exchange business is becoming increasingly global. The consolidation and
alliance wave has reached Indian shores as well. India is currently growing at the
rate of 8% per annum and has been doing so for a few years. Third, India is now the
4th largest country in the world in terms of purchasing power parity. If the current
growth rate continues it will soon be the third largest, overtaking Japan and just
behind the US and China. The fast growing stock markets in India are attracting
major global investors.
The international bourses feel that investments in India's Stock Exchanges (SEs)
compliment their global growth strategy. Through a mutually beneficial partnership,the foreign groups will extend their global reach. Major global stock exchanges have
been merging and forming alliances in recent years. As companies spread their
global operations, such merged entities and alliances can offer listing possibilities in
multiple markets. Regulatory controls in select markets like the US have also
furthered this consolidation wave.
After completing a round of domestic consolidation, US stock exchanges have
stepped out and are acquiring exchanges in Europe besides forming alliances in
Asia where outsight acquisitions may not be possible.
Though RBI said it will allow up to 49 percent foreign investment in stock exchanges,
the Securities and Exchange Board of India (Sebi) may say no to foreign players
from becoming strategic investors in domestic stock exchanges. The Sebi may allow
a foreign player to invest not more than 5 per cent in an exchange.
According to the de-mutualisation plan laid out by the government, all corporatised
stock exchanges are expected to divest 51per cent of their equity to public investors.
The internal group suggested that of the 51per cent to be divested, 25 per cent could
be offered to an Indian strategic partner. The rest could be offered to others,including foreign players and resident Indian investors, with no investor holding over
5 per cent each.
In other words, the capital market regulator has capped the individual investment,
direct or indirect, in such exchanges at five per cent. This means many investors
need to join together to have a strategic control.
Under the new rules, foreign direct investment would be limited at 26 percent, while
foreign portfolio investments would be capped at 23 percent in all these entities, the
central bank said. It, however, said portfolio investments would be allowed onlythrough buying in the secondary market
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The BSE is said to be looking for foreign investors. It plans to offload the stake held
by some of the brokers to strategic investors (26%) and to the public (23%) through
an IPO.
The greater investment participation will incentivise foreign institutions to share
technology and trading expertise with the Indian exchanges. For instance, Indian
exchanges will have to explore the scope for creating alternative electronic trading
platforms to ensure that institutional interest for 24X7 trading is serviced in the long
run.
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NASDAQ
NASDAQ began forty years ago at the National Association of Securities Dealers,
or NASD. The NASD wanted to create a way for investors to buy and sell stocks on
a computerized, transparent, and fast system. This would eliminate the burden andinefficiency of in-person stock transactions, which had been the prevalent model for
nearly a century. The NASD believed that investors could make more money by
closing the price gaps between buyers and sellers, and technology had evolved
enough at that point to make it happen.
On February 8, 1971, the National Association of Securities Dealers Automated
Quotation (NASDAQ) went live with median quotes for 2,500 over-the-counter
securities. As we celebrate the 40th anniversary of electronic trading, we are proud
that the revolutionary, disruptive model that the NASD developed in 1971 is now the
standard for markets worldwide. In our early years, we gave growth companies theopportunity to raise capital that wasnt previously available to them. Those
companies (Intel, Microsoft, Apple, Cisco, Oracle, Dell, to name a few) used the
capital raised on The NASDAQ Stock Market to make the cutting edge products that
are now integral to our daily lives. These companies have also created millions of
jobs around the world along the way.
Today, the NASDAQ OMX Group owns and operates 24 markets, 3 clearing
houses, and 5 central securities depositories, spanning six continents--making us the
worlds largest exchange company. Eighteen of our 24 markets trade equities. Theother six trade options, derivatives, fixed income, and commodities. We are the
largest single liquidity pool for US equities and the power behind 1 in 10 of the
worlds securities transactions. Seventy exchanges in 50 countries trust our trading
technology to power their markets, driving growth in emerging and developed
economies.
NASDAQ OMX is also dedicated to designing powerful, relevant index and
benchmark families that are in sync with the continually changing market
environment. Utilizing the expanded coverage of our global footprint, NASDAQ OMX
has nearly 2,000 diverse indexes that provide coverage across asset classes,countries and sectors. Not only do our indexes provide comprehensive insight into
the global markets, but our unparalleled process, added value and competitive
pricing set us apart from other indexers. Whether you are an institution, fund
manager or private investor, NASDAQ OMX indexes are benchmarks that can help
both influence and track investment
strategies.
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In 2006, NASDAQ completed its separation from the NASD and began to operate as
a national securities exchange. The next year (2007), NASDAQ combined with the
powerful Scandinavian exchange group OMX and officially became The NASDAQ
OMX Group, further demonstrating its commitment to technology and innovation
across global markets.
Origin
Because of the amount of planning involved, the development of the system did not
begin until 1968. On February 8, 1971, NASDAQ officially opened, quoting more
than 2,500 over-the-counter securities. While NASDAQ did not officially change its
name to "The NASDAQ Stock Market" until 1990, it had developed many
manifestations of itself. The NASDAQ National Market, a collection of companylistings held to higher standards than other listed stocks, was created in 1982. In
1984, NASDAQ launched a system to execute small orders automatically, called the
Small Order Execution System. NASDAQ created the OTC Bulletin Board in 1990 to
provide information to investors on stocks not included in NASDAQ.
Timeline
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Need For NASDAQ
NASDAQ was created in response to concerns from Congress in the 1960s that the
Securities and Exchange Commission had been lax in supervising stock trades, andhad not adequately enforced rules against large securities companies. A 1963 SEC
report found that the American Stock Exchange "had failed in creating an adequate
structure of surveillance, control and discipline," and it questioned the effectiveness
of self-regulation and the ability of exchanges to protect investors. The SEC's
solution was automation. It assigned this task of creating a computerized system to
the National Association of Securities Dealers.
Board Of Directors
Names Post Department
Executive Team
Robert Greifeld Chief Executive Officer
Bruce E. Aust
Executive Vice President,
Corporate Client Group
Anna Ewing
Executive Vice President,
Global Technology
Solutions
Meyer "Sandy" Frucher Vice Chairman, The NASDAQ OMX
Group
John L. Jacobs
Executive Vice President,
Global Information
Services
Hans-Ole Jochumsen Executive Vice President, Transactions Services
Nordics
Edward S. Knight Executive Vice President, General Counsel &
Chief RegulatoryOfficer
Eric W. Noll
Executive Vice President,.
Transaction Services
U.S
Brad Peterson
Executive Vice President
and Chief Information
Officer
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Lee Shavel Chief Financial Officer and
Executive Vice President
Corporate Strategy
Senior Vice Presidents
Magnus Billing Senior Vice President, President of NASDAQ
OMX Stockholm and
Head of Nordic Fixed
Income and Baltic
Markets
Charlotte Crosswell
Senior Vice President
NASDAQ OMX Europe
Joan Conley
Senior Vice President and
Corporate Secretary
P.C. Nelson Griggs Senior Vice President, Global Corporate Client
Group
Ronald Hassen Senior Vice President and
Finance Controller
Frank M. Hatheway Senior Vice President and
Chief Economist
Brian Hyndman Senior Vice President Global Data Products
Jean-Jacques Louis Senior Vice President Corporate Strategy
Robert McCooey
Senior Vice President
New Listings and the
Capital Markets Group
Ann NeidenbachSenior Vice President,
NASDAQ OMX MarketSystems
Brian O'Malley
Senior Vice President and
General Auditor
Lars Ottersgrd
Senior Vice President and
Head of Market
Technology
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Geir Reigstad Senior Vice President of
Commodities
Lauri Rosendahl
Senior Vice President
Nordic Equities within
NASDAQ OMX
Transaction ServicesNordic
Johan Rudn Senior Vice President Transaction Services
Nordic
Bjrn Sibbern Senior Vice President Commodities and
Broker Service
Demetrios N. Skalkotos
Senior Vice President
Global Corporate
Solutions
Jeremy Skule
Senior Vice President and
Chief Marketing Officer
Bryan Smith
Senior Vice President,
Head of Global Human
Resources
Lex Speal
Senior Vice President
Corporate Finance
Peter Strandell Senior Vice President andGroup Treasurer
Dean Tilsley Senior Vice President Corporate Operations
Bob Waghorne Senior Vice President Global Technology
Services, Derivatives
Technology
Thomas A. Wittman
Senior Vice President
U.S. Options
John A. Zecca
Senior Vice President of
MarketWatch
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Indices
The Nasdaq Composite is a stock market index of the common stocks and similarsecurities (e.g. ADRs, tracking stocks, limited partnership interests) listed on the
NASDAQ stock market, meaning that it has over 3,000 components. It is highly
followed in the U.S. as an indicator of the performance of stocks of technology
companies and growth companies. Since both U.S. and non-U.S. companies are
listed on the NASDAQ stock market, the index is not exclusively a U.S. index.
Ticker Name Name Current Price
^IXBK NASDAQ Bank 2,317.61
^NBI NASDAQ Biotechnology 2,201.67
^IXIC NASDAQ Composite 3,781.59
^IXK NASDAQ Computer 1,801.04
^IXF NASDAQ Financial 100 2,772.01
^IXID NASDAQ Industrial 3,413.78
^IXIS NASDAQ Insurance 5,862.45
^IXFN NASDAQ Other Finance 5,189.25
^IXUT NASDAQ Telecommunications 240.81
^IXTR NASDAQ Transportation 2,778.81
^NDX NASDAQ-100 3,230.30
http://en.wikipedia.org/wiki/Stock_market_indexhttp://en.wikipedia.org/wiki/Common_stockhttp://en.wikipedia.org/wiki/American_Depositary_Receipthttp://en.wikipedia.org/wiki/Tracking_stockhttp://en.wikipedia.org/wiki/Limited_partnershiphttp://en.wikipedia.org/wiki/NASDAQhttp://finance.yahoo.com/q?s=%5EIXBKhttp://finance.yahoo.com/q?s=%5EIXBKhttp://finance.yahoo.com/q?s=%5ENBIhttp://finance.yahoo.com/q?s=%5ENBIhttp://finance.yahoo.com/q?s=%5EIXIChttp://finance.yahoo.com/q?s=%5EIXIChttp://finance.yahoo.com/q?s=%5EIXKhttp://finance.yahoo.com/q?s=%5EIXKhttp://finance.yahoo.com/q?s=%5EIXFhttp://finance.yahoo.com/q?s=%5EIXFhttp://finance.yahoo.com/q?s=%5EIXIDhttp://finance.yahoo.com/q?s=%5EIXIDhttp://finance.yahoo.com/q?s=%5EIXIShttp://finance.yahoo.com/q?s=%5EIXIShttp://finance.yahoo.com/q?s=%5EIXFNhttp://finance.yahoo.com/q?s=%5EIXFNhttp://finance.yahoo.com/q?s=%5EIXUThttp://finance.yahoo.com/q?s=%5EIXUThttp://finance.yahoo.com/q?s=%5EIXTRhttp://finance.yahoo.com/q?s=%5EIXTRhttp://finance.yahoo.com/q?s=%5ENDXhttp://finance.yahoo.com/q?s=%5ENDXhttp://finance.yahoo.com/q?s=%5ENDXhttp://finance.yahoo.com/q?s=%5EIXTRhttp://finance.yahoo.com/q?s=%5EIXUThttp://finance.yahoo.com/q?s=%5EIXFNhttp://finance.yahoo.com/q?s=%5EIXIShttp://finance.yahoo.com/q?s=%5EIXIDhttp://finance.yahoo.com/q?s=%5EIXFhttp://finance.yahoo.com/q?s=%5EIXKhttp://finance.yahoo.com/q?s=%5EIXIChttp://finance.yahoo.com/q?s=%5ENBIhttp://finance.yahoo.com/q?s=%5EIXBKhttp://en.wikipedia.org/wiki/NASDAQhttp://en.wikipedia.org/wiki/Limited_partnershiphttp://en.wikipedia.org/wiki/Tracking_stockhttp://en.wikipedia.org/wiki/American_Depositary_Receipthttp://en.wikipedia.org/wiki/Common_stockhttp://en.wikipedia.org/wiki/Stock_market_indexhttp://www.nasdaqomx.com/aboutus/ourleadership/ -
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Twenty Most Active by Dollar Volume
As of 9/27/2013 4:00:00 PM
Symbol Company Last Sale Dollar Volume
FBFacebook, Inc.
$ 51.24 $ 4,165,236,165
AAPL Apple Inc. $ 482.75 $ 3,927,596,070
QQQPowerShares QQQ Trust,
Series 1
$ 79.07 $ 1,968,441,166
CSCOCisco Systems, Inc. $ 23.33 $ 1,923,565,429
MSFTMicrosoft Corporation $ 33.27 $ 1,841,237,689
TSLA Tesla Motors, Inc.
$ 190.90 $ 1,129,756,318
GOOGGoogle Inc.
$ 876.39 $ 1,103,219,013
YHOOYahoo! Inc. $ 33.55 $ 1,066,326,696
MUMicron Technology, Inc. $ 17.62 $ 793,199,769
QCOMQUALCOMM
Incorporated
$ 67.38 $ 731,086,206
INTCIntel Corporation $ 22.98 $ 664,709,599
CELGCelgene Corporation
$ 154.61 $ 648,518,912
AMZNAmazon.com, Inc.
$ 316.01 $ 523,867,790
CMCSAComcast Corporation
$ 44.74 $ 480,834,157
PCLNpriceline.com
Incorporated
$ 1,014.97 $ 454,268,093
EBAY eBay Inc. $ 55.78 $ 403,203,499
NFLXNetflix, Inc.
$ 312.40 $ 370,688,842
CERNCerner Corporation
$ 52.61 $ 360,562,740
GILDGilead Sciences, Inc. $ 63.54 $ 357,899,089
FOXA
Twenty-First Century
Fox, Inc.
$ 33.26 $ 331,160,973
http://www.nasdaq.com/symbol/fbhttp://www.nasdaq.com/symbol/fbhttp://www.nasdaq.com/symbol/fbhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/fbhttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/foxahttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/gildhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/cernhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/nflxhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/ebayhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/pclnhttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/cmcsahttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/amznhttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/celghttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/intchttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/qcomhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/muhttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/yhoohttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/googhttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/tslahttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/msfthttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/cscohttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/qqqhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/aaplhttp://www.nasdaq.com/symbol/fbhttp://www.nasdaq.com/symbol/fb -
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American Depositary Receipt (ADR)
An American depositary receipt (ADR) is a negotiable security that represents
securities of a non-US company that trades in the US financial markets. Securities of
a foreign company that are represented by an ADR are calledAmerican depositaryshares (ADSs).
Shares of many non-US companies trade on US stock exchanges through ADRs.
ADRs are denominated and pay dividends in US dollars and may be traded like
regular shares of stock. Over-the-counter ADRs may only trade in extended hours.
Indian American Deposit Receipts (ADRS)
This list gives you a Current Market Price (US $), Total Number of Shares (inMillions), Change (US $) and % Change
COMPANY ADR
Price
(US$)
ISSUE
PRICE
(US$)
LOCAL
PRICE
(Rs)
NO OF
ADRs
(m)
ADR
MKT CAP
(US$ m)
Volume
DR. REDDYS LAB(REDY) 38.6 10.0 2,411.4 169.8 6,555.4 232043
HDFC BANK(HDBK) 31.8 59.4 609.8 259.8 8,258.6 784481
ICICI BANK(ICBK) 31.7 11.0 923.3 288.2 9,127.9 1927813
INFOSYS LTD(INFY) 48.7 17.0 3,006.4 571.4 27,838.6 1547990
MTNL(MTNL) 0.5 7.5 15.8 157.5 70.9 3350
REDIFF.COM(REDF) 2.2 12.0 NM 55.2 123.1 41221
SATYAMINFOWAY(SIFY) 1.8 0.4 NM 714.0 1,306.7 20875
SESA STERLITE(SESA) 12.0 13.4 182.9 210.1 2,514.6 455,919
TATA MOTORS(TELCO) 27.6 0.0 339.9 638.0 17,602.4 1256335
WIPRO(WPRO) 10.6 41.2 475.2 2,450.0 26,043.5 963889
http://en.wikipedia.org/wiki/American_depositary_sharehttp://en.wikipedia.org/wiki/American_depositary_sharehttp://www.equitymaster.com/stockquotes/adr.asp?orderby=Name%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/adr.asp?symbol=REDY&name=DR-REDDYS-LAB-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=REDY&name=DR-REDDYS-LAB-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=HDBK&name=HDFC-BANK-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=HDBK&name=HDFC-BANK-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=ICBK&name=ICICI-BANK-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=INFY&name=INFOSYS-LTD-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=INFY&name=INFOSYS-LTD-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=MTNL&name=MTNL-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=REDF&name=REDIFFCOM-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=REDF&name=REDIFFCOM-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SIFYD&name=SATYAMINFOWAY-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SIFYD&name=SATYAMINFOWAY-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SESA&name=SESA-STERLITE-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SESA&name=SESA-STERLITE-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=TELCO&name=TATA-MOTORS-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=TELCO&name=TATA-MOTORS-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=WPRO&name=WIPRO-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=WPRO&name=WIPRO-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=WPRO&name=WIPRO-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=TELCO&name=TATA-MOTORS-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SESA&name=SESA-STERLITE-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=SIFYD&name=SATYAMINFOWAY-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=REDF&name=REDIFFCOM-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=MTNL&name=MTNL-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=INFY&name=INFOSYS-LTD-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=ICBK&name=ICICI-BANK-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=HDBK&name=HDFC-BANK-ADR-Stock-Quotehttp://www.equitymaster.com/adr.asp?symbol=REDY&name=DR-REDDYS-LAB-ADR-Stock-Quotehttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_mktCap%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=adr_no%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=LocalPrice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=issueprice%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=%5bclose%5d%20deschttp://www.equitymaster.com/stockquotes/adr.asp?orderby=Name%20deschttp://en.wikipedia.org/wiki/American_depositary_sharehttp://en.wikipedia.org/wiki/American_depositary_share -
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Market Tiers
NASDAQ Capital MarketSmall Cap
Nasdaq Capital Market is a equity market for companies that have relatively small
levels of market capitalization. Listing requirements for such "small cap" companies
are less stringent than for other Nasdaq markets that list larger companies with
significantly higher market capitalization
NASDAQ Global MarketMid Cap
NASDAQ Global Market is made up of stocks that represent the Nasdaq Global
Market. The NASDAQ Global Market consists of 1,450 stocks that meet Nasdaq's
strict financial and liquidity requirements, and corporate governance standards. TheGlobal Market is less exclusive than the Global Select Market
NASDAQ Global Select MarketLarge Cap
NASDAQ Global Select Market is a market capitalization-weighted index made up of
U.S.-based and international stocks that represent the NASDAQ Global Select
Market Composite. The NASDAQ Global Select Market consists of 1,200 stocks that
meet Nasdaq's strict financial and liquidity requirements and corporate governance
standards. The Global Market Select is more exclusive than the Global Market.
Every October, the Nasdaq Listing Qualifications Department reviews the GlobalMarket Composite to determine if any of its stocks have become eligible for listing on
the Global Select Market.
Quote availability
NASDAQ quotes are available at three levels:
Level 1 shows the highest bid and lowest offerinside quote.
Level 2 shows all public quotes ofmarket makers together with information ofmarket dealers wishing to sell or buy stock and recently executed orders .
Level 3 is used by the market makers and allows them to enter their quotes
and execute orders
http://en.wikipedia.org/wiki/NASDAQ_Capital_Markethttp://en.wikipedia.org/w/index.php?title=NASDAQ_Global_Market&action=edit&redlink=1http://en.wikipedia.org/wiki/NASDAQ_Global_Select_Markethttp://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/Market_makerhttp://en.wikipedia.org/wiki/NASDAQ_Global_Select_Markethttp://en.wikipedia.org/w/index.php?title=NASDAQ_Global_Market&action=edit&redlink=1http://en.wikipedia.org/wiki/NASDAQ_Capital_Market -
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Hours Of Operation
Regular Trading Session ScheduleThe NASDAQ Stock Market Trading Sessions (Eastern Time)Pre-Market Trading Hours from 4:00 a.m. to 9:30 a.m.Market Hours from 9:30 a.m. to 4:00 p.m.After-Market Hours from 4:00 p.m. to 8:00 p.m.Quote and order-entry from 4:00 a.m. to 8:00 p.m.Quotes are open and firm from 4:00 a.m. to 8:00 p.m.
Financials
The NASDAQ OMX Group, Inc.
Consolidated Balance Sheets(in million Dollars)
December 31,
2012
Assets (unaudited)
Current assets:
Cash and cash equivalents 497
Restricted cash 85
Financial investments, at fair value 223
Receivables, net 333
Deferred tax assets 33
Default funds and margin deposits 209
Open clearing contracts:
Derivative positions, at fair value --
Resale agreements, at contract value --
Other current assets 112
Total current assets 1,492
Non-current restricted cash 25
Property and equipment, net 211Non-current deferred tax assets 294
Goodwill 5,335
Intangible assets, net 1,650
Other non-current assets 125
Total assets $ 9,132
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Liabilities
Current liabilities:
Accounts payable and accrued expenses 172
Section 31 fees payable to SEC 97
Accrued personnel costs 111Deferred revenue 139
Other current liabilities 119
Deferred tax liabilities 35
Default funds and margin deposits 209
Open clearing contracts:
Derivative positions, at fair value --
Repurchase agreements, at contract value --
Current portion of debt obligations 45
Total current liabilities 927Debt obligations 1,931
Non-current deferred tax liabilities 713
Non-current deferred revenue 156
Other non-current liabilities 196
Total liabilities $ 3,923
Commitments and contingencies
Equity
NASDAQ OMX stockholders' equity:Common stock 2
Additional paid-in capital 3,771
Common stock in treasury, at cost (1,058)
Accumulated other comprehensive loss (185)
Retained earnings 2,678
Total NASDAQ OMX stockholders' equity 5,208
Noncontrolling interests 1
Total equity 5,209
Total liabilities and equity $ 9,132
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Clearing and Settlement
For more than 30 years, DTCCs family of companies has helped automate,
centralise, standardise and streamline processes that are critical to the safety and
soundness of the capital markets. As a result, weve helped our customers increase
their operational efficiency, reduce risk and lower cost.
DTCC is a holding company established in 1999 to combine The Depository Trust
Company (DTC) and National Securities Clearing Corporation (NSCC). Those
companies, in turn, grew out of Wall Streetspaperwork crisis in the late 1960s and
early 1970s. Neither company, however, started out serving a national market. They
were formed initially to handle clearing and immobili