Date:14/04/2004 URL: http://www.thehindubusinessline.com/2004/04/14/stories/2004041402340300.htm

Back BSE hikes membership fee to Rs 90 lakh

Our Bureua

Mumbai , April 13

WITH the sentiment in the stock market remaining bullish, the Bombay Stock Exchange (BSE) has decided to increase the membership fee.

The new membership fee for becoming member of the stock exchange is Rs 90 lakh compared to Rs 65 lakh last year.

BSE in a statement said the exchange has decided to admit 25 members in the cash segment for a minimum entrance fee of Rs 90 lakh.

The BSE has invited applications for membership and the governing board has decided to accept the top 25 applications, the exchange said.

The membership is open to individuals or corporates, except subsidiaries of recognised stock exchanges, it said.

It said the initial contribution of Rs 3 lakh required for membership of the derivatives segment is waived off in case the new members of the cash segment apply for membership of the former within three months of obtaining the registration certificate from the Securities and Exchange Board of India, it added.