UP Stock Exchange
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|UP Stock Exchange|
|Founded||27 August 1982|
|Key people||Dr. G.H.Singhania (Founder)|
UP Stock Exchange Limited (Formerly known as The U.P.Stock Exchange Association Ltd., Kanpur), is a Kanpur-based stock exchange.It occupies one of the prominent place among the Stock Exchanges in India. The Exchange was inaugurated on 27 August 1982 by the then Finance Minister Shri Pranab Mukherjee. It plays an important role in the development of the capital market of North India. Initially, it had only 350 members which has grown up to 540 at present. UPSE is the only Stock Exchange in whole of Uttar Pradesh and the membership of this Stock Exchange is not restricted to the territories of Uttar Pradesh only. Members living outside Kanpur has contributed a lot by creating the equity cult in whole of the Uttar Pradesh.
UPSE Securities Ltd. is a 100% owned subsidiary of the U.P. Stock Exchange Association Ltd. and was incorporated on 19 April 2000. Its main object is to obtain membership of the big exchanges like BSE or CSE. It aims at providing trading facilities on these bigger exchanges to the members of U.P. Stock Exchange as a sub-brokers according to the policies/guidelines issued by SEBI.
The Company acquired the membership of Bombay Stock Exchange (BSE) and commenced an online trading on BSE On-Line Trading System (BOLT) from 29 January 2001. Currently, 43 members are trading on BSE through the Company, 96 have been registered with SEBI as sub-brokers and 153 have applied for participation. The Company has also been admitted as member of CSE and further steps are being taken in this regard.
Investor's Service Center / Library of UPSE R&D Wing of UPSE is in function since 1992 under the directions of SEBI and it provides valuable services to the investors. Investor's Service Centre maintains a well equipped library of Books, journals, periodicals and Newspapers on Financial Markets.
They maintain the records of day to day quotations of major exchanges, the annual reports,of companies, PRIME Directory, complete set of volumes of the Stock Exchange, Mumbai Directories. Along with this it also maintains the news letters, daily bulletin, books on Capital Markets, Investor Awareness, Budget, Taxation with other relevant books.
The UPSE has been organising summer camps to give trainings to Company Secretaries and MBAs from different institutes giving them complete data and helping the student to know the practical day-to-day working of the exchanges. Along with this it also organises Investor Awareness Shows.
The changing technology have helped the exchange to install a corporate database of over 7000 companies. The rates of UPSE, BSE and NSE is displayed live for the benefit of investors.