The Bombay stock exchange, also known as BSE, is an Indian stock exchange situated at Dalal Street, Mumbai. It is Asia’s first stock exchange. Currently, it is the 10th largest stock exchange of world, with a market capitalisation of around $4.9 trillion dollars.
The Bombay stock exchange was founded by Premchand Roychand in 1875. He was a businessman who made great fortune in stock broking business. One out of his many establishments, Native Share and Stock Brokers Association came to be known as BSE.
While BSE is now synonymous with Dalal street, it was not always so. The first venue of the earliest stock broker meetings in 1850s used to be a place under the banyan tree in front of the town hall. A decade later, the brokers moved their meeting location to a place under banyan trees at the junction of Meadows Street, now known as Mahatma Gandhi Road. The shifts in location were due to the increase in the number of brokers. At last, in 1874, the brokers found a permanent place, and the one that they could claim to be theirs. This new location came to be known as Dalal Street (Brokers Street).
The Bombay Stock Exchange (BSE) is the oldest stock exchange of Asia. On 31st August, 1957 it became the first stock exchange to be recognised by Indian Government as per the Securities Contracts Act 1980. During this time the exchange moved to the Phirozee Jeejeebhoy Towers at Dalal Street, Fort area. In 1986 it developed the S&P BSE SENSEX index, to track the overall performance of the exchange. In 2000, BSE opened its derivatives market using SENSEX for the trade of S&P BSE SENSEX futures contracts. This expansion was followed by establishment of options along with equity derivatives in 2001 and 2002.
Initially being a manual trading exchange, the Bombay Stock Exchange (BSE) switched to an automated trading setup developed by CMC Ltd. in 1995. This transition was implemented by the exchange in 50 days. The electronic screen based trading platform known as BSE On-Line Trading (BOLT) had a capacity to execute 8 million orders per day.
BSE also has raised funds by issuing its shares which is traded only on NSE. It also is a partner of United Nations Sustainable Stock Exchange initiative, from September 2012. It founded India INX on 30 December 2016, which is the first international exchange of India. It also runs its commodity derivatives contract in gold and silver.
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