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CSE gears up for new technology

Calcutta, Dec. 10: Calcutta Stock Exchange Ltd (CSE) may get a new trading platform from April. At present, trading is done on C-Star, a software introduced many years back.

“We are planning to upgrade the technology of the stock exchange and have budgeted sufficient amount for this,” said Dipankar Chatterjee, chairman of CSE.

CSE managing director and chief executive officer Molly Thumbi is in talks with different vendors for a user-friendly platform.

“We’ll be able to zero in on one latest by April,” Thumbi said.

Two months back, the Bombay Stock Exchange, which has picked up a 5 per cent stake in CSE, had acquired Marketplace Technologies Pvt Ltd for Rs 43 crore to provide back-office technology to its member brokers. Marketplace Technologies was set up by Ashish Chauhan who is now BSE’s deputy CEO.

The monthly trading volume on CSE is now Rs 535 crore, significantly up from less than a crore a few years ago.

The volume has gone up particularly after the tie-up with the BSE that allows CSE member brokers to trade in stocks listed on the BSE.

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