Asia’s oldest bourse, the Bombay Stock Exchange (BSE), today said it has been granted an ‘in-principle’ approval by the capital market watchdog Sebi to launch an exchange exclusively for small and medium enterprises (SMEs).
“BSE today received an ‘in-principle’ approval…the BSE is now gearing-up for its latest venture in an emerging market segment,” a release issued here by the BSE said.
A senior Exchange official said the BSE has to now comply with certain conditions like putting in place a trading system, a code for arbitration and sorting out investor grievances, among others, before a final approval is given.
The BSE has been working to put the systems in place for some time now and a dedicated SME exchange will be operational “definitely” in this fiscal itself, he said.
