Pune Stock Exchange Ltd. is a company limited by guarantee. The Exchange was established on 2nd Sept. 1982 to cater to the needs of the growing investor community in the city.
Starting small, with 35 members and a few lac rupees business initially, the exchange has grown tremendously to over 185 members and about 15-20 crores of business daily. Much of the work is computerised with a smooth settlement system. Over 310 companies are listed with the Stock Exchange.
The Exchange, while providing an efficient market also upholds investors interests and ensures redressal of their grievances. It also strives to educate and enlighten investors by making available necessary information inputs.
Pune Stock Exchange opted for the on-line screen based trading in 1995. The Exchange has been successfully using a screen based Trading System, based on VECTOR (Versatile Engine for Centralised Trading and On-line Reporting) and developed and implemented by CMC Ltd,for more than three years now. The present operations cover 183 broker members and 9 workstations for administration, Market Operations and Surveillance activities of PSE.
Pune Stock Exchange has been looking into the possibilitioes of widening its activities to different parts of Pune city and to other cities like Satara, Sangli, Solapur, Kolhapur, Ahmednagar, Aurangabad, Nashik and Mumbai.
PSE ranks 7th in the country & here are the Highlights for this year:
The income of the Stock Exchange from Listing Fees, Interest and Dividend decreased marginally, compared to last year due to the overall drop in the interest rates of the Bank deposits and bonds.
We could achieve a target whereby we have invested almost 90 to 95% of our invisible amount in the long-term form.
Efforts are being made to prepare the quarterly financial results of the Exchange from the coming year.
The Exchange took several steps to reduce the expenditure wherever it was possible, by implementing the proverb of "A penny saved is a penny earned".
During the year under review, we arrived at a revised salary agreement with our staff union where we have agreed to give a 25% rise while seeking a commitment for 3 years.
A new Panel of Auditors has been formed for a period of three years. It will carry out quarterly inspection of accounts books of members / brokers.
Our Stock Exchange has undertaken a time bound programme to get ourselves prepared to face 'Y2K' problems of computers.
The Exchange had planned to organize various Training Programmes for the investors,
The Exchange recorded a turnover of Rs. 4,824.06 crores this year as compared to the last year's turnover of Rs. 8,624.47 crores.
The Exchange Completed all the 51 settlements exactly as per the settlement calendar.
The Exchange has received an in-principle approval from SEBI for the Trade Guarantee Fund. The initial corpus of the fund is about Rs. 4.80 crores.
The Exchange has shifted the administrative office to Shivleela Chambers, Sadashiv Peth, Kumthekar Marg, Pune.