Investor Protection

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CSBL Details

Management of Cochin Stock Exchange

           The policy level management of Cochin Stock Exchange is vested with the Council of Management. The Council of Management is constituted with 13 members of whom 6 are elected from amongst the members of Cochin Stock Exchange, 2 persons nominated by SEBI, 1 Government nominee and 3 Public Representatives. The council of management appoints Executive Director and is an ex-officio member of the council. He takes care of the administration of the exchange. The treasurer appointed from the Cochin Stock Exchange, subject to the approval of government and SEBI, oversee the financial functions of the exchange.

            The same council of management is managing Cochin Stock Brokers Ltd. the subsidiary of the exchange. The council of management becomes the Board of Directors of the subsidiary. The Executive Director is the Managing Director of CSBL.

             The operation of any Stock Exchange can commence only with the recognition of the central government under the securities contract regulation act, (SCR) 1956. The various regulations concerning the listing of companies and the trading related activities are provided under SCR rules, 1957. The bye-laws of the exchange give guidelines on opening/closing of Cochin Stock Exchange, timing of trading, regulation of badla or carryover business, fixation of margins, making of prices, arbitration, settlement of disputes etc.

Membership Profile

           Cochin Stock Exchange currently has 508 members. All the members of CSE have one share each of value Rs 100 thus making the issued, subscribed and paid up capital of Rs 50,800. The authorized capital of CSE is Rs 1,00,000 with the total membership limited to 1000.

            As per the SEBI norms CSE charges an initial deposit of Rs.2 lakhs from each of its members. Based on the volume of trade each member is to contribute additional deposits. Along with this an annual subscription fee of Rs.200 for individual members and Rs.500 for corporate members will be charged by CSE. The members are allowed to appoint their assistants or sub-brokers based on the guidelines given by SEBI. During the five years of membership each member have to pay Rs.5000 annually to SEBI as advance payment on or before 1st October of each financial year. From the 6th to the 10th year of membership the total amount payable is Rs.5000 which is payable at the beginning of the 6th year (counted as payment of Rs.1000 per year). In addition to this, if the previous year turnover is more than 1 crore then 0.01% of the exceeding amount should also be paid to SEBI.

Cochin Stock Exchange, Kochi, India