Depositary System

Topics: Stock exchange, Stock market, Stock Pages: 46 (13308 words) Published: August 22, 2013

1.1 INTRODUCTION TO LUDHIANA STOCK EXCHANGE
The Ludhiana Stock Exchange Limited was established in 1981, by Sh. S.P. Oswal of Vardhman Group and Sh. B.M. Lal Munjal of Hero Group, leading industrial luminaries, to fulfill a vital need of having a Stock Exchange in the region of Punjab, Himachal Pradesh, Jammu & Kashmir and Union Territory of Chandigarh. Since its inception, the Stock Exchange has grown phenomenally. The Stock Exchange has played an important role in channelising savings into capital for the various industrial and commercial units of the State of Punjab and other parts of the country. The Exchange has facilitated the mobilization of funds by entrepreneurs from the public and thereby contributed in the overall, economic, industrial and social development of the States under its jurisdiction. Ludhiana Stock Exchange is one of the leading Regional Stock Exchange and has been in the forefront of other Stock Exchange in every spheres, whether it is formation of subsidiary for providing the platform of trading to investors, for brokers etc. in the era of Screen based trading introduced by National Stock Exchange and Bombay Stock Exchange, entering into the field of Commodities trading or imparting education to the Public at large by way of starting Certification Programmes in Capital Market.

1.1.1 THE VISION AND MISSION OF STOCK EXCHANGE IS:
"Reaching small investors by providing services relating to Capital Market including Trading, Depository Operations etc and creating Mass Awareness by way of education and training in the field of Capital Market. To create educated investors and fulfilling the gap of skilled work force in the domain in Capital Market." Further, the Exchange has 295 members out of which 162 are registered with National Stock Exchange as Sub-brokers and 121 with Bombay Stock Exchange as sub-brokers through our subsidiary.

1.1.2 GOVERNANCE AND MANAGEMENT
LSE has a strong governance and administration, which encompasses a right balance of Industry Experts with highest level educational background, practicing professionals and independent experts in various fields of Financial Sector. The administration is presently headed by Sr. General Manager CUM Company Secretary and team of persons having indepth knowledge of Secretarial, Legal and Education & Training. The Governing Board of our Exchange comprises of eleven members, out of which two are Public Interest Directors, who are eminent persons in the fields of Finance and Accounts, Education, Law, Capital Markets and other related fields, Six are Shareholder Directors, and Three are Broker Member Director and the Exchange has four Statutory Committees namely Disciplinary Committee, Arbitration Committee, Defaults Committee and Investor Services Committee. In addition, it has advisory and standing committees to assist the administration.

LSE has a Code of Conduct in place that governs the elected Board Members and the Senior Management Team. The same is monitored through periodic disclosure procedures. The Exchange has an Ethics Committee, which looks into any issue of conflict of interest and has in place general code of conduct for the Senior Officials. The composition of the Governing Board is as under:-

Table1.1: BOARD OF DIRECTORS

Sr. No. | Name of Director | Category |
1 | Sh. V.P. Gaur| Chairman |
2 | Sh. Anup Kumar Jain| Shareholder Director |
3 | Sh. Ashok Kumar| Shareholder Director |
4 | Sh. Rajinder Mohan Singla| Shareholder Director |
5 | Sh Padam Parkash Kansal| Shareholder Director |
6 | Sh. Vikas Batra| Shareholder Director |
7 | Dr. R.L. Behl| Public Representative|
8 | Sh. Jasminder Singh| Public Representative|
9 | Sh. Ashwani Kumar| Public Representative|
10 | Dr. Raj Singh, ROC| Public Representative|
11 | Mrs. Pooja M. Kohli| Executive Director|
| | |

1.1.3 STRENGTH OF LSE GROUP
“LSE” brand is...

References: Adams and Carow (2009). Earnings Management and Initial Public Offerings: The Case of the Depository Industry Journal of Earnings Management, 21( 11), 41-67.
Budimir and Schweickert (1997). Latency in Electronic Securities Trading. Journal of Trading, 4(3), 47-55.
Hogan and Malmquist (1998). Depository and Derivatives Interest rate risk. Journal of Trading Skills, 16(2), 43-52.
Maghyereh and Omet Jr. (1996). Electronic Trading and Market Efficiency. Journal of Smart Investors, 6(4), 33-44.
Malkamaki and Tarkka (2002). Economies of Scale and Technological Development in Securities Depository and Settlement Systems. Bank of Finland Discussion Paper 26-2002.
Noack (July, 2005). Investor Rights in Central Security Depository Systems. Center for Business & Corporate Law RPS No.0019.
Pais (June, 2005). Why Do Depository Institutions Use Securitization? Journal of Massey University, 2(4), 31-35.
Schwartz and Economides (1995). Electronic Trading. Journal of Portfolio Management, 21 (3), 22-27.
Srinivasan (1999). Portfolio Trading and Electronic Networks. CME journal of Market Position, 17(4), 13-19.
Continue Reading

Please join StudyMode to read the full document

You May Also Find These Documents Helpful

  • Essay on Hrm & Hr Sub-System
  • Essay about The Seven Phases of the Systems Development Life Cycle
  • SR rm 022 part3 Essay
  • Systems and Sub Systems Inter- Relationships Essay
  • Systems Thinking Essay
  • System Approach Essay
  • Ecological Systems Theory Essay
  • Open System Theory Essay

Become a StudyMode Member

Sign Up - It's Free