NSE is mutually-owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities. There are at least 2 foreign investors NYSE Euronext and Goldman Sachs who have taken a stake in the NSE. As of 2006, the NSE VSAT terminals, 2799 in total, cover more than 1500 cities across India. In October 2007, the equity market capitalization of the companies listed on the NSE was US$ 1.46 trillion, making it the second largest stock exchange in South Asia. NSE is the third largest Stock Exchange in the world in terms of the number of trades in equities. It is the second fastest growing stock exchange in the world with a recorded growth of 16.6%.

NSE has played a catalytic role in reforming the Indian securities market in terms of microstructure, market practices and trading volumes. The market today uses state-of-art information technology to provide an efficient and transparent trading, clearing and settlement mechanism, and has witnessed several innovations in products & services viz. demutualisation of stock exchange governance, screen based trading, compression of settlement cycles, dematerialisation and electronic transfer of securities, securities lending and borrowing, professionalisation of trading members, fine-tuned risk management systems, emergence of clearing corporations to assume counterparty risks, market of debt and derivative instruments and intensive use of information technology.

In recognition of the fact that technology will continue to redefine the shape of the securities industry, NSE stresses on innovation and sustained investment in technology to remain ahead of competition. NSE’s IT set-up is the largest by any company in India. It uses satellite communication technology to energise participation from around 200 cities spread all over the country. In the recent past, capacity enhancement measures were taken up in regard to the trading systems so as to effectively meet the requirements of increased users and associated trading loads. With upgradation of trading hardware, NSE today can handle up to 15 million trades per day in Capital Market segment. In order to capitalise on in-house expertise in technology, NSE set up a separate company, NSE Technology Services Ltd. which is expected to provide a platform for taking up all IT related assignments of NSE.

NEAT is a state-of-the-art client server based application. At the server end, all trading information is stored in an in-memory database to achieve minimum response time and maximum system availability for users. The trading server software runs on a fault tolerant STRATUS main frame computer while the client software runs under Windows on PCs.

NSE is one of the largest interactive VSAT based stock exchanges in the world. Today it supports more than 2000 VSATs and 3000 leased lines across the country. The NSE- network is the largest private wide area network in the country and the first extended C- Band VSAT network in the world. Currently more than 9000 users are trading on the real time-online NSE application. There are over 15 large computer systems which include non-stop fault-tolerant computers and high end UNIX servers, operational under one roof to support the NSE applications. This coupled with the nation wide VSAT network makes NSE the country’s largest Information Technology user.

In an ongoing effort to improve NSE’s infrastructure, a corporate network has been implemented, connecting all the offices at Mumbai, Delhi, Calcutta and Chennai. This corporate network enables speedy inter-office communications and data and voice connectivity between offices.

Origins

The National Stock Exchange of India was promoted by leading Financial institutions at the behest of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.

Innovations

NSE has remained in the forefront of modernization of India’s capital and financial markets, and its pioneering efforts include:

• Being the first national, anonymous, electronic limit order book (LOB) exchange to trade securities in India. Since the success of the NSE, existent market and new market structures have followed the “NSE” model.
• Setting up the first clearing corporation “National Securities Clearing Corporation Ltd.” in India. NSCCL was a landmark in providing innovation on all spot equity market (and later, derivatives market) trades in India.
• Co-promoting and setting up of National Securities Depository Limited, first depository in India.
• Setting up of S&P CNX Nifty.
• NSE pioneered commencement of Internet Trading in February 2000, which led to the wide popularization of the NSE in the broker community.
• Being the first exchange that, in 1996, proposed exchange traded derivatives, particularly on an equity index, in India. After four years of policy and regulatory debate and formulation, the NSE was permitted to start trading equity derivatives
  Being the first and the only exchange to trade GOLD ETFs (exchange traded funds) in India.
• NSE has also launched the NSE-CNBC-TV18 media centre in association with CNBC-TV18.

Markets

Currently, NSE has the following major segments of the capital market:

• Equity
• Futures and Options
• Retail Debt Market
• Wholesale Debt Market
• Currency futures

Indices

NSE also set up as index services firm known as India Index Services & Products Limited (IISL) and has launched several stock indices, including:

• S&P CNX Nifty
• CNX Nifty Junior
• CNX 100 (= S&P CNX Nifty + CNX Nifty Junior)
• S&P CNX 500 (= CNX 100 + 400 major players across 72 industries)
• CNX Midcap (introduced on 18 July 2005 replacing CNX Midcap 200)

Certifications

NSE also conducts online examination and awards certification, under its programmes of NSE’s Certification in Financial Markets (NCFM). Currently, certifications are available in 19 modules, covering different sectors of financial and capital markets. Branches of the NSE are located throughout India.

NSE Milestones

• November 1992 Incorporation
• April 1993 Recognition as a stock exchange
• May 1993 Formulation of business plan
• June 1994 Wholesale Debt Market segment goes live
• November 1994 Capital Market (Equities) segment goes live
• March 1995 Establishment of Investor Grievance Cell
• April 1995 Establishment of NSCCL, the first Clearing Corporation
• June 1995 Introduction of centralised insurance cover for all trading members
• July 1995 Establishment of Investor Protection Fund
• October 1995 Became largest stock exchange in the country
• April 1996 Commencement of clearing and settlement by NSCCL
• April 1996 Launch of S&P CNX Nifty
• June 1996 Establishment of Settlement Guarantee Fund
• November 1996 Setting up of National Securities Depository Limited, first depository in India, co-promoted by NSE
• November 1996 Best IT Usage award by Computer Society of India
• December 1996 Commencement of trading/settlement in dematerialised securities
• December 1996 Dataquest award for Top IT User
• December 1996 Launch of CNX Nifty Junior
• February 1997 Regional clearing facility goes live
• November 1997 Best IT Usage award by Computer Society of India
• May 1998 Promotion of joint venture, India Index Services & Products Limited (IISL)
• May 1998 Launch of NSE’s Web-site: www.nse.co.in
• July 1998 Launch of NSE’s Certification Programme in Financial Market
• August 1998 CYBER CORPORATE OF THE YEAR 1998 award
• February 1999 Launch of Automated Lending and Borrowing Mechanism
• April 1999 CHIP Web Award by CHIP magazine
• October 1999 Setting up of NSE.IT
• January 2000 Launch of NSE Research Initiative
• February 2000 Commencement of Internet Trading
• June 2000 Commencement of Derivatives Trading (Index Futures)
• September 2000 Launch of ‘Zero Coupon Yield Curve’
• November 2000 Launch of Broker Plaza by Dotex International, a joint venture between NSE.IT Ltd. and i-flex Solutions Ltd.
• December 2000 Commencement of WAP trading
• June 2001 Commencement of trading in Index Options
• July 2001 Commencement of trading in Options on Individual Securities
• November 2001 Commencement of trading in Futures on Individual Securities
• December 2001 Launch of NSE VaR for Government Securities
• January 2002 Launch of Exchange Traded Funds (ETFs)
• May 2002 NSE wins the Wharton-Infosys Business Transformation Award in the Organization-wide Transformation category
• October 2002 Launch of NSE Government Securities Index
• January 2003 Commencement of trading in Retail Debt Market
• June 2003 Launch of Interest Rate Futures
• August 2003 Launch of Futures & options in CNXIT Index
• June 2004 Launch of STP Interoperability
• August 2004 Launch of NSE’s electronic interface for listed companies
• March 2005 ‘India Innovation Award’ by EMPI Business School, New Delhi
• June 2005 Launch of Futures & options in BANK Nifty Index
• December 2006 ‘Derivative Exchange of the Year’, by Asia Risk magazine
• January 2007 Launch of NSE – CNBC TV 18 media centre
• March 2007 NSE, CRISIL announce launch of IndiaBondWatch.com
• June 2007 NSE launches derivatives on Nifty Junior & CNX 100
• October 2007 NSE launches derivatives on Nifty Midcap 50
• January 2008 Introduction of Mini Nifty derivative contracts on 1st January 2008
• March 2008 Introduction of long term option contracts on S&P CNX Nifty Index
• April 2008 Launch of India VIX
• April 2008 Launch of Securities Lending & Borrowing Scheme
• August 2008 Launch of Currency Derivatives

Corporate Office:

National Stock Exchange of India Ltd.
Exchange Plaza,
Plot no. C/1, G Block,
Bandra-Kurla Complex
Bandra (E)
Mumbai – 400 051.
India

Tel: +91-22-26598100 – 14
Fax: +91-22-26598120

List of offices

http://www.nseindia.com

BSE is the first stock exchange in the country which obtained permanent recognition (in 1956) from the Government of India under the Securities Contracts (Regulation) Act 1956. BSE’s pivotal and pre-eminent role in the development of the Indian capital market is widely recognized. It migrated from the open outcry system to an online screen-based order driven trading system in 1995. Earlier an Association Of Persons (AOP), BSE is now a corporatised and demutualised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). With demutualisation, BSE has two of world’s best exchanges, Deutsche Börse and Singapore Exchange, as its strategic partners.

Around 6,000 Indian companies list on the stock exchange, and it has a significant trading volume. The BSE SENSEX (SENSitive indEX), also called the “BSE 30″, is a widely used market index in India and Asia. Though many other exchanges exist, BSE and the National Stock Exchange of India account for most of the trading in shares in India.

Over the past 133 years, BSE has facilitated the growth of the Indian corporate sector by providing it with an efficient access to resources. There is perhaps no major corporate in India which has not sourced BSE’s services in raising resources from the capital market. Today, BSE is the world’s number 1 exchange in terms of the number of listed companies and the world’s 5th in transaction numbers. The market capitalization as on December 31, 2007 stood at USD 1.79 trillion . An investor can choose from more than 4,700 listed companies, which for easy reference, are classified into A, B, S, T and Z groups.

The BSE Index, SENSEX, is India’s first stock market index that enjoys an iconic stature , and is tracked worldwide. It is an index of 30 stocks representing 12 major sectors. The SENSEX is constructed on a ‘free-float’ methodology, and is sensitive to market sentiments and market realities. Apart from the SENSEX, BSE offers 21 indices, including 12 sectoral indices. BSE has entered into an index cooperation agreement with Deutsche Börse. This agreement has made SENSEX and other BSE indices available to investors in Europe and America. Moreover, Barclays Global Investors (BGI), the global leader in ETFs through its iShares brand, has created the ‘iShares BSE SENSEX India Tracker’ which tracks the SENSEX. The ETF enables investors in Hong Kong to take an exposure to the Indian equity market.

Milestones:

• The first Exchange Traded Fund (ETF) on SENSEX, called “SPIcE” is listed on BSE. It brings to the investors a trading tool that can be easily used for the purposes of investment, trading, hedging and arbitrage. SPIcE allows small investors to take a long-term view of the market.
• BSE provides an efficient and transparent market for trading in equity, debt instruments and derivatives. It has a nation-wide reach with a presence in more than 359 cities and towns of India. BSE has always been at par with the international standards. The systems and processes are designed to safeguard market integrity and enhance transparency in operations. BSE is the first exchange in India and the second in the world to obtain an ISO 9001:2000 certification. It is also the first exchange in the country and second in the world to receive Information Security Management System Standard BS 7799-2-2002 certification for its BSE On-line Trading System (BOLT).
• BSE continues to innovate. In recent times, it has become the first national level stock exchange to launch its website in Gujarati and Hindi to reach out to a larger number of investors. It has successfully launched a reporting platform for corporate bonds in India christened the ICDM or Indian Corporate Debt Market and a unique ticker-cum-screen aptly named ‘BSE Broadcast’ which enables information dissemination to the common man on the street.
• In 2006, BSE launched the Directors Database and ICERS (Indian Corporate Electronic Reporting System) to facilitate information flow and increase transparency in the Indian capital market. While the Directors Database provides a single-point access to information on the boards of directors of listed companies, the ICERS facilitates the corporates in sharing with BSE their corporate announcements.

Services Offered:

BSE also has a wide range of services to empower investors and facilitate smooth transactions:

• Investor Services: The Department of Investor Services redresses grievances of investors. BSE was the first exchange in the country to provide an amount of Rs.1 million towards the investor protection fund; it is an amount higher than that of any exchange in the country. BSE launched a nationwide investor awareness programme- ‘Safe Investing in the Stock Market’ under which 264 programmes were held in more than 200 cities.
• The BSE On-line Trading (BOLT): BSE On-line Trading (BOLT) facilitates on-line screen based trading in securities. BOLT is currently operating in 25,000 Trader Workstations located across over 359 cities in India.
• BSEWEBX.com: In February 2001, BSE introduced the world’s first centralized exchange-based Internet trading system, BSEWEBX.com. This initiative enables investors anywhere in the world to trade on the BSE platform.
• Surveillance: BSE’s On-Line Surveillance System (BOSS) monitors on a real-time basis the price movements, volume positions and members’ positions and real-time measurement of default risk, market reconstruction and generation of cross market alerts.
• BSE Training Institute: BTI imparts capital market training and certification, in collaboration with reputed management institutes and universities. It offers over 40 courses on various aspects of the capital market and financial sector. More than 20,000 people have attended the BTI programmes.

Hours of Operation

08:00 – 09:00  Beginning of the Day Session
09:00 – 09:30  Login Session
09:55 – 15:30  Trading Session
15:30 – 15:50  Position Transfer Session
15:50 – 16:05  Closing Session
16:05 – 16:35  Option Exercise Session
16:35 – 16:50  Margin Session
16:50 – 17:35  Query Session
17:35              End of Day Session

Awards

• The World Council of Corporate Governance has awarded the Golden Peacock Global CSR Award for BSE’s initiatives in Corporate Social Responsibility (CSR).
• The Annual Reports and Accounts of BSE for the year ended March 31, 2006 and March 31 2007 have been awarded the ICAI awards for excellence in financial reporting.
• The Human Resource Management at BSE has won the Asia – Pacific HRM awards for its efforts in employer branding through talent management at work, health management at work and excellence in HR through technology

Corporate Headoffice:

Bombay Stock Exchange Limited
Phiroze Jeejeebhoy Towers
Dalal Street
Mumbai – 400 001
India

Tel: +91-22-22721233/4
Fax: +91-22-22721919

List of Important Contacts

http://www.bseindia.com

The company is also a depository participant with National Securities Depository Limited (NSDL) and Central Depository Services Limited (CDSL), providing dual benefit services wherein the investors can avail the company’s brokerage services for executing the transactions and the depository services for settling them. Kotak Securities Ltd. processes more than 4,00,000 trades a day which is much higher even than some of the renowned international brokers.

Kotak Securities Limited has over Rs. 3300 crore of Assets Under Management (AUM) as of 31st March, 2008. The portfolio Management Service provides top class service, catering to the high end of the market. Portfolio Management from Kotak Securities comes as an answer to those who would like to grow exponentially on the crest of the stock market, with the backing of an expert. Unlike many other companies, Kotak Securities Ltd., has a Centralised Risk Management System and an in-house Research Team which allows it to offer the same levels of service to customers across all locations. Kotak Securities was awarded as the most customer responsive company in the Financial Institution sector by AVAYA GlobalConnect Award both in 2006 and 2007.

Kotak Securities Ltd has been the first in providing many products and services which have now become industry standards. Some of them are:

• Facility of Margin Finance to the customers
• Investing in IPOs and Mutual Funds on the phone
• SMS alerts before execution of depository transactions
• Mobile application to track portfolios
• AutoInvest – A systematic investing plan in Equities and Mutual funds
• Provision of margin against securities automatically against shares in the customer’s Demat account

Kotak Securities’ Accolades include:

• Best Brokerage Firm in India by Asiamoney in 2008, 2007 & 2006
• Best Performing Equity Broker in India – CNBC Financial Advisor Awards 2008
• Avaya Customer Responsiveness Awards (2007 & 2006) in Financial Services Sector
• The Leading Equity House in India in Thomson Extel Surveys Awards for the year 2007
• Euromoney Award (2007 & 2006) – Best Provider of Portfolio Management: Equities
• Euromoney Award (2005)-Best Equities House In India
• Finance Asia Award (2005)-Best Broker In India
• Finance Asia Award (2004)- India’s best Equity House
• Prime Ranking Award (2003-04)- Largest Distributor of IPO’s

Registered Office:

Kotak Securities Ltd.
1st Floor, Bakhtawar
Nariman Point
Mumbai – 400 021
India

Tel:+91-22-66341100

Corporate Office:

Kotak Securities Ltd.
2nd Floor, Nirlon House
Dr. Annie Besant Road,
Worli
Mumbai – 400 025
India

Tel:+91-22-66529191

List of offices

http://www.kotaksecurities.com

In March, 2002, in order to ease it’s operations, Angel Broking developed it’s web-enabled back office software. By the year 2004, the company launched it’s online trading platform, easing it’s customers to do the transactions online. The company received the prestigious “Major Volume Driver” award three years in a row (FY05, FY06, FY07). Angel Broking’s PMS function was formally launched in July, 2006. By August 2008, the company crossed the 500,000 mark in unique trading accounts.

Angel has a pan-India presence, with 102 branches including 18 regional hubs connected through a state of the art IT Network. Linked with the largest trading terminal base of 10457 terminals. Angel has a base of 5300+ sub-brokers & business associates, 5000+ direct employees & 15000+ indirect employees, as well as a solid 70+ member research team in equities & commodities.

Team Angel today is a big family, catering to more than 4.7 lakhs delighted and satisfied clients all across the country.

Corporate & Registered Office:

Angel Broking,
G-1, Akruti Trade Center,
Road No-7,
M.I.D.C.,
Andheri (E),
Mumbai – 400 093
India.

Tel: +91-22-28358800 / 30837700

List of branch offices

http://www.angelbroking.com