Mangalore Stock Exchange
Mangalore stock exchange came into existence on the 31st of July 1984 and is a public limited company.
Only on the 9th of September 1985 under the 4th section of the Securities Contracts Regulation Act 1956 was given the first recognition.
Chief Minister S.M.Krishna laid the foundation stone in the new building for this exchange on the 28th of September 2001 at Kulur.
The state government of India also approved three acres of land for this exchange.
It was renewed from time to time ever since 1985.
The recognition that was valid last was only up to September 8th 2003.
In the year of 2004 on the 31st of August SEBI derecognized the stock exchange. When an exchange is derecognized, all the companies that are listed in this exchange seek listing in other stock exchanges or can even move out to the shareholders according to the rules and regulations of SEBI.
The members or shareholders of this Mangalore stock exchange will ask to be members of other recognized stock exchanges and will also be deregistered.
When they do this their certificate of registration will be cancelled.
Trading system in Mangalore stock exchange
in the year 1996 this exchange came out with the screen based trading system with the help of local solutions like Microsoft solutions, Microsoft consulting Services and an Australian company, stallion technologies.
This in order gave a rise to the customer service and also increased the productivity within this exchange.
It monitored trading activities that took place in this exchange and also kept up to the guidelines and monitored the performance and all activities by the companies and had a back up of all proceedings.
There were connections that were provided to the members of the stock exchange and that was the 8/32 host adapter card and having this they could trade in their own work places wherever they may be and only a dial up connection was needed through the exchanges lease lines.
This stock exchange gives information from time to time and it provides the rates from every major stock exchange in India.
The Mangalore stock exchange is located on the 4th floor, Rama Bhavan Complex, Kodialbail in Mangalore which is in Karnatake.
The screen based trading system of the stock exchange is the first in India and also joins local area network and a wide area network. Dealing with the equity shares in this stock exchange is easy and Eco friendly.