Wednesday, July 6, 2016

Commemorative Postage Stamp on 'Bombay Stock Exchange' will be released on 9/7/2016

The Bombay Stock Exchange (BSE) is an Indian stock exchange located at Dalal StreetKala GhodaMumbaiMaharashtraIndia. Established in 1875, the BSE is Asia’s first stock exchange and the world's fastest stock exchange with a median trade speed of 6 microseconds. The BSE is the world's 11th largest stock exchange with an overall market capitalization of $1.7 trillion as of January 23, 2015. More than 5500 companies are publicly listed on the BSE.

The Bombay is the oldest exchange in Asia. Its history dates back to 1855, when five stockbrokers would gather under banyan trees in front of Mumbai's Town Hall. The location of these meetings changed many times to accommodate an increasing number of brokers. The group eventually moved to Dalal Street in 1874 and in became an official organization known as "The Native Share & Stock Brokers Association" in 1875. On August 31, 1957, the BSE became the first stock exchange to be recognized by the Indian Government under the Securities Contracts Regulation Act. In 1980, the exchange moved to the Phiroze Jeejeebhoy Towers at Dalal StreetFort area. In 1986, it developed the BSE SENSEX index, giving the BSE a means to measure the overall performance of the exchange. In 2000, the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE's trading platform.

Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system developed by CMC Ltd. in 1995. It took the exchange only 50 days to make this transition. This automated, screen-based trading platform called BSE On-Line Trading (BOLT) had a capacity of 8 million orders per day. The BSE has also introduced a centralized exchange-based internet trading system, BSEWEBx.co.in to enable investors anywhere in the world to trade on the BSE platform.

The BSE is also a Partner Exchange of the United Nations Sustainable Stock Exchange initiative, joining in September 2012.

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