List Of Stock Exchanges in India

Stock exchanges are platforms where financial securities like stocks and bonds are bought and sold. National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) are the two major and prominent ones. Though most people are only familiar with these two, there are other notable stock exchanges in India that play a crucial role in facilitating trading and investment activities. They contribute significantly to India’s economic growth and provide opportunities for investors to participate in the country’s dynamic financial sector. In this article we will learn more about all major stock exchanges in India for better understanding of the Indian stock market and its operations.

What is the Stock Market?

Before we check out the list of Stock Exchanges in India, we must understand what a stock market is. The stock market encompasses various exchanges and over-the-counter platforms where individuals can buy and sell shares of publicly traded companies. These financial activities adhere to specific regulations and take place in formal marketplaces. By facilitating interactions between buyers and sellers, the stock market enables transactions and the determination of share prices.

Additionally, it serves as an indicator of the overall economic health. Participants in the market benefit from fair pricing, ample liquidity, and transparent competition among buyers and sellers. In simple language, here, investors and traders buy and sell financial securities during a particular time of business days. These trading hours, days, and holidays are decided as per the product trade and the investor base targeted.

Also, it is substantial for you to understand that the stock market and stock exchanges in India are two different things.

What is the Stock Exchange?

The stock exchange plays a crucial role in the stock market by enabling the exchange of financial instruments between traders and interested buyers. In India, the stock exchange serves as a marketplace for trading various financial assets such as stocks, bonds, and commodities.

It provides a platform where buyers and sellers can engage in transactions for these financial instruments within specific hours on any business day, following the well-established guidelines set by the Securities and Exchange Board of India (SEBI). However, participation in the stock exchange is limited to companies that have undergone the process of listing.

There are two types of Stock Exchanges in India:

• Stock Exchanges in India that works at National level.
• Stock Exchanges in India that work at the regional level.

List Of Stock Exchanges in India

There are 9 stock exchanges in India that are functioning at present. They are under the scrutiny of SEBI. Let’s take a look at the table below.

A Complete List of Active Stock Exchanges in India

It is imperative to know in detail about these stock exchanges in India so that you get a fair idea about which suits your needs and is best for you. Here is the list:

1. Bombay Stock Exchange Limited (BSE)

It is the first and one of the most important stock exchanges in India, which is located at Dalal Street, Mumbai. It was established in 1875 and is said to be the world’s 10^th largest Stock Exchange with a market capitalization of Rs 277 trillion and has more than 5500 companies listed in it.

The history of BSE is worth knowing. Over 160 years ago, a group of 22 stockbrokers gathered under a Banyan tree outside Mumbai Town Hall (presently Horniman circle), investing a mere Rs 1 each. As more people joined, their trading activities flourished.

The group, known as The Native Share and Stockbrokers Association, was formally established in 1875 and eventually evolved into the Bombay Stock Exchange (BSE). In 1930, they moved to the present-day BSE building on Dalal Street, with Premchand Roychand leading the way and overseeing the development of codes and rules for the exchange.

The government of India acknowledged BSE as the first National Stock Exchange under the Securities Contracts Act in 1956. Since then, it has promoted the growth of the Indian Corporate Sector by giving it a capital-raising platform.

Services and Achievements:

1. The introduction of Sensex in 1986 marked a significant milestone as the first equity index to identify the top 30 trading companies across more than 10 sectors on the Bombay Stock Exchange (BSE).

2. In addition to Sensex, BSE offers various other important indices such as:

• BSE 100
• BSE 200
• BSE 500
• BSE MIDCAP
• BSE SMLCAP
• BSE PSU
• BSE Auto
• BSE Pharma
• BSE FMCG
• BSE Metal

3. As of October 19, 2021, BSE’s total market capitalization exceeded Rs 277 trillion, making it one of the top 10 most valued exchanges worldwide. BSE went public through an initial public offering (IPO) and is listed on the National Stock Exchange (NSE) as well.

4. Moreover, BSE not only facilitates equity trading but also provides a platform for trading in derivative instruments like futures and options.

5. In recent years, BSE has expanded its product offerings to include commodities derivatives. These commodities include:

• gold
• silver
• almonds
• crude oil
• steel
• cotton

2. National Stock Exchange of India (NSE)

This is also established in Mumbai and is the leading and one of the popular stock exchanges in India. It was established in 1992 by its founder and CEO Vikram Limaye, but the trading started in 1994. The sequence began with the introduction of the wholesale debt market, which was soon followed by the commencement of the cash market segment.

It desisted the monopoly of BSE and became the first demutualized electronic exchange in the country and had a fully automated screen-based electronic trading system. The establishment of the rival stock exchange was prompted by the illegal market manipulation conducted by a member of BSE and its slow response to address the issue. Additionally, the government of India detected several fraudulent activities, leading to the decision of opening a competing stock exchange.

This initiative completely revolutionized the buying and selling of shares in the country. Its most notable effect was the global accessibility it provided, enabling people from any location to engage in trading. Stock price information became accessible to a wider audience, no longer limited to a select few individuals. NSE has been stable in maintaining its reputation in terms of reliability, innovation, trust, and expertise.

Services and Achievements:

1. There are fast executing systems installed in this Exchange which makes the process transparent, easy, and approachable.

2. NSE has been ranked 4^th in aspects of trade volume in equity. As of December 2019, the National Stock Exchange (NSE) boasted a listing of more than 1900 securities, collectively valued at a market capitalization exceeding Rs 154.32 lakh Crores. It is far ahead of BSE in terms of volume and turnover.

3. Initially, NSE could handle two orders in one second, but it enhanced its technology, and by 2011 it could handle 60 orders per second. You would be surprised to know that it can take 1,60,000 orders every second.

4. In 1995-96, the NSE introduced the NIFTY 50 Index, enabling trading and settlement in dematerialized securities. Nifty 50 comprises the top 50 companies traded on the NSE.

5. In addition to Nifty, NSE has introduced several other significant indices such as:

• Nifty Next50
• Nifty500
• Nifty Midcap150
• Nifty Smallcap250
• Nifty MidSmallcap 400

6. To facilitate secure stock holding and transfer, the National Securities Depository Limited (NSDL) was established, providing depository services to investors. It enables investors and traders to electronically hold and transfer their stocks in a secure manner.

7. NSE has expanded its offerings beyond equities and equity derivatives. It now provides services like clearing and settlement, as well as commodities and currency derivatives.

Also Read: How To Invest In Foreign Stocks From India

3. India International Exchange (INDIA INX)

This is the leading international Exchange of India, and it is located at the International Financial Services Centre (IFSC), GIFT city in Gujarat. Prime Minister Narendra Modi inaugurated it on January 9, 2017, and the trading started on January 16.

It is the world’s speediest exchange and one of the most advanced technology platforms regarding the stock exchanges in India, with a turn-around time of 4 microseconds. This is because it runs on the Eurex T7 platform. It is completely listed under BSE as its subsidiary.

It was open as a substitute for the offshore banking activities done by Indian companies. The offshore transactions take place in Dubai, Singapore, and Hong Kong.

Before the advent of INDIA INX, people who wanted to invest in foreign currency had to reach out to exchanges abroad which caused a loss of investment domestically. But now, the process has become cheap, easy, and fast.

Services and Achievements:

1. India INX has introduced the Global Securities Market, a platform within India that allows international investors to connect with Indian and foreign issuers in the primary market.

2. INX currently provides derivative products such as equity, currency, and commodities derivatives, as well as debt instruments like masala bonds and foreign currency bonds.

3. INDIA INX operated 22 hours a day and opens six days a week so that it is convenient for NRI’s and global investors who work under distinct time zones.

4. Resident Indians have the convenient option of using the India INX platform to easily transact and invest in global securities according to their preferences. Through the Reserve Bank of India’s LRS route, investors can comfortably invest up to $250,000.

5. It dominates approximately 84% of the market in derivative trading and holds a staggering 97% market share in the trading of listed debt securities.

6. According to recent news, INX is set to enable the trading of shares of foreign stocks, including prominent companies listed in the US and Europe, on its platform in the near future.

7. They work in two sessions each day:

• Session 1: 04:30 a.m. to 5 p.m.
• Session 2: 5:01 p.m. to 02:30 a.m.

4. National Stock Exchange IFSC Limited (NSE IFSC)

It is similar to India INX and is located in the International Financial Service Centre, at GIFT city, Gujarat. It was established in November 2016 and is a subsidiary of NSE. The purpose of launching NSE IFSC was to expand India’s financial market and improve the capital brought to the markets and stock exchanges in India.

Services and Achievements:

1. They do not trade in individual stocks; they just trade in derivative segments such as equity, currency, and commodity.

2. They work in two sessions, and each session is of 8 hours.

• The first session begins from 8 a.m. to 5 p.m.
• The second session is from 5:30 p.m. to 11:30 p.m.

5. Multi Commodity Exchange of India (MCX)

MCX, which stands for Multi Commodity Exchange, is a prominent commodity exchange in the country. It is the first listed commodity exchange which was made under the regulatory body FMC, but later merged with SEBI. It was instituted in 2003, with its operation starting on November 10, 2003, and is located in Mumbai. It is the most comprehensive commodity derivatives exchange in India.

In 2018, it completed 15 years, and it touched the height of trading by generating a turnover of $50 trillion. The stock of MCX is also listed on NSE and BSE.

Services and Achievements:

1. They have launched a web-based app called ComRIS for keeping a record of transactions. Because of these achievements, MCX was ranked 7^th among the global commodity exchanges. It became one of the most important stock exchanges in India.

2. It specializes in facilitating trade exclusively in commodities, encompassing both agricultural and non-agricultural products. Among the wide range of commodities traded on this exchange in the agricultural category are:

• cotton
• crude palm oil
• rubber
• cardamom

Non-agricultural commodities comprise base metals like:

• lead
• aluminium
• nickel
• zinc
• copper

Bullion such as gold and silver, and energy resources like crude oil and natural gas are also traded.

3. Despite the availability of futures and options contracts across various products, MCX also introduced index futures contracts that has garnered increasing interest, such as:

• MCX BULLDEX (bullion index)
• MCX METLDEX (metal index)
• MCX ENRGDEX (energy index)

4. While primarily utilized by hedgers, traders, businessmen, and companies, the trading volumes continue to rise. However, the commodities market still has room for growth to establish a reputation akin to the equity market.

6. National Commodity and Derivates Exchange (NCDEX)

NCDEX, one of the one of the most important stock exchanges in India, commenced its operations during a similar period as MCX. NCDEX was founded on April 23, 2003, and it is an online commodity trading exchange that is managed by professionals. It is one of the largest commodity exchanges in the country. Though its headquarter is in Mumbai, it provides facilities to its members from multiple centers located across the country.

Services and Achievements:

1. Most of the shares of NCDEX are owned by companies, national-level institutions, and large public sector banks.

2. Here you only find commodity derivates and hence, you can trade on:

• different kinds of seeds
• turmeric
• wheat
• chickpeas
• grains
• barley
• refined oils

3. NCDEX has also helped in improving agricultural practices by making trade easy and also promoting growth for people who are linked with agriculture.

4. In the past few years, NCDEX has also ventured into providing index products like AGRIDEX.

5. It is a permanently recognized stock exchange that has more than 30 lakh clients who trade on over 50,000 terminals across 1000 centers in India.

6. Their trading time is from 10 a.m.-11:30 p.m. and is open five days a week.

Also read: 20 Must-Read Books For Stock Market Investors

7. Indian Commodity Exchange Limited (ICEX)

It is not exactly among the stock exchanges in India, but a SEBI regulated commodity derivate exchange. Its headquarter is based in Mumbai, and it has been registered at SEBI since August 2017. It permits the registered brokers to deal in particular financial instruments across the country.

Although ICEX was established in 2009, its trading activities were halted in 2014. However, it resumed operations in 2017. It is recognized as a permanent exchange and is the first exchange in the world to launch a diamond derivative contract in 2017.

Services and Achievements:

1. In ICEX, you have the opportunity to trade in mutual funds and commodity derivates as well.

2. It holds a unique position as the sole exchange offering diamond contract trading.

3. It provides a platform for trading agricultural derivatives such as spices, oilseeds, plantations, and cereals.

4. ICEX has been embroiled in various controversies and faced allegations. Efforts are underway to address these issues, and it is anticipated that the exchange will overcome these challenges in the near future.

8. Calcutta Stock Exchange Limited (CSE)

This stock exchange also has a great story which is very interesting. It was back in 1830 under a neem tree where a group of brokers gathered and commenced their dealings. Later in 1908 CSE was made and at that time it was name Calcutta Stock Exchange Association, and its location was China Bazar Street, Kolkata.

In the year 1928, the building was changed, and it was shifted to the Lyons Range in Kolkata. It is the second oldest Stock Exchange in South Asia. The Government of India granted permanent recognition to it in 1980 under the relevant provisions of the Securities Contracts (Regulation) Act, 1956.

Services and Achievements:

1. BSE also has its 5% stake in CSE.

2. CSE started using an electronic trading system in 1997.

3. It also has an index called CSE-40 just like Sensex and Nifty 50.

But now no trading happens in CSE, and it has also stopped updating its index since April 2013. Just like other small stock exchanges in India, SEBI has asked to close CSE due to failure to adhere to specific standards or regulations., but the matter is still in court. Although it’s an inactive stock exchange, yet it is deemed to be an active and permanent stock exchange registered with SEBI.

9. Metropolitan Stock Exchange of India Limited (MSE)

It was established in November 2008 and started trading in 2009. On December 21, 2012, the Ministry of Corporate Affairs officially designated the Exchange as a Recognized Stock Exchange under the Companies Act.

Here you can trade in more than 1500 companies, and it also has various big financial institutions as shareholders. Its electronic system is very transparent and high tech.

Services and Achievements:

1. It is one of three stock exchanges in India (the other two are NSE and BSE) where you can trade individual stocks.

2. Here you can also trade in financial segments such as futures, options, debt, SME platform, currency & equity derivates.

Currently, the situation of the MSE is similar to that of the CSE. While the latter was a permanent exchange, the MSE’s recognition as an exchange is valid until September 15, 2023, according to information from SEBI.

In accordance with SEBI rules, stock exchanges in India are required to maintain a minimum net worth, and due to numerous controversies, the net worth of MSE has been declining. If the MSE fails to raise funds by that time, there is a possibility that its license will not be renewed.

This was the list of stock exchanges in India that are active at present.

List of Old Stock Exchanges in India that were Closed

There were 29 stock exchanges in India that got closed. Let us discuss some of them and know the reasons why they got closed.

1. Ahmadabad Stock Exchange

The Ahmedabad Stock Exchange (ASE) is the second oldest stock exchange in India, situated in Ahmedabad, a city in the western part of the country. It is fully owned by the Government of India and is recognized as a permanent stock exchange under the Securities Contract (Regulations) Act, 1956.

The exchange was established in 1894 as a Public Charitable Trust, following the establishment of the Bombay Stock Exchange in 1875. Initially operating under the Bombay Securities Contracts Act, 1925, the ASE transitioned to the Ahmedabad Stock Exchanges’ Online Trading System (ASETS) in June 1999, which was provided by Tata Consultancy Services Ltd.

Trading members of the ASE can also engage in trading on the Bombay Stock Exchange through a system called IBOSS. Presently, the ASE has 333 trading members.

2. Delhi Stock Exchange

The Delhi Stock Exchange (DSE) was a prominent stock exchange located in New Delhi, India. It was formed through the merger of the Delhi Stock and Share Brokers’ Association Limited and the Delhi Stocks and Shares Exchange Limited on June 25, 1947. As India’s fifth exchange, DSE had strong connections with 50 cities in North India and boasted a listing of over 3,000 companies.

It gained permission from the market regulator to become a member of the Bombay Stock Exchange (BSE) and allowed DSE members to trade on BSE terminals. Additionally, it had a similar relationship with the National Stock Exchange (NSE). DSE collaborated with the National Securities Depository Limited (NSDL) to introduce trading in dematerialized shares, with the option for physical or dematerialized delivery starting in November 1998.

The exchange established a Trade Guarantee Fund (TGF) worth Rs 1.25 billion on July 27, 1998, which ensured the fulfillment of settlement commitments and the smooth completion of transactions even if a member failed to honor their obligations. It was one of the popular stock exchanges in India.

Also Read: Stock Market Timings in India

3. Gauhati Stock Exchange

The Guwahati Stock Exchange (GSE), located in Gauhati, Assam, was established on November 29, 1983. It received recognition from the Government of India on May 1, 1984. By the fiscal year 1999-2000, the GSE had a total of 206 brokers, including 5 corporate brokers, 200 proprietor brokers, and 1 partnership broker, with only 4 registered sub-brokers.

At the time of its closure, the GSE had 290 listed companies. The exchange was connected to the National Stock Exchange of India (NSE) through the ISE Securities and Services Ltd. (ISS), a subsidiary of the Inter-connected Stock Exchange of India Ltd., and its trading operations were conducted via a screen-based trading system.

4. Jaipur Stock Exchange

The Jaipur Stock Exchange (JSE) was established and recognized in 1989 in Jaipur, Rajasthan. It quickly gained prominence and became the third largest exchange in India in terms of membership. Under the leadership of Dr. J N Dhankhar, who served as the Executive Director, JSE achieved significant milestones within a short span of time.

By January 1996, JSE successfully listed 750 companies and experienced a substantial increase in daily turnover, reaching an average of Rs 80 million. As one of the 15 regional Stock Exchanges in India, JSE played a key role in the formation of the Inter-connected Stock Exchange of India Ltd., contributing an initial capital of Rs 1 crore – comprised of Rs 5 lakhs as admission fee and Rs 95 lakhs as infrastructure fee.

5. Madhya Pradesh Stock Exchange

Madhya Pradesh Stock Exchange (MPSE) was an esteemed stock exchange located in Indore, Madhya Pradesh, India. Founded in 1919, it held the distinction of being the third oldest stock exchange in India and operated as a prominent outcry-based stock exchange. MPSE was recognized by the Securities and Exchange Board of India (SEBI) as a permanent stock exchange.

Initially established as an association with approximately 150 broking members, MPSE had grown over the years and boasted 185 broker members, including renowned brokering houses in India. The exchange facilitated trading for around 315 companies, including some of the country’s leading corporate entities. Notably, MPSE was the first regional exchange in India to receive approval from SEBI, enabling regional exchanges to emerge from a dormant state. Prior to this development, trading on MPSE was conducted through its subsidiary.

6. Pune Stock Exchange

Pune Stock Exchange Limited, incorporated on June 14, 1982, is an unlisted company in the finance industry. In fact, the central government initially gave it permission for 5 years but then because of its outstanding performance, the membership was renewed from time to time.

The company’s authorized capital is Rs 10.0 lakhs, with a paid-up capital of Rs 0.0 lakhs, accounting for 0.0% of the authorized capital. Having been in the finance business for the past 41 years, Pune Stock Exchange Limited’s current status is marked as strike off, indicating that its operations are currently suspended or inactive. It was one of the popular stock exchanges in India.

7. Mangalore Stock Exchange

Mangalore Stock Exchange Limited (MGSE) is a public limited company located in Mangalore, Karnataka, India. It was incorporated on July 31, 1984, and is owned by the Ministry of Finance, Government of India. Initially recognized by the Central Government for a period of five years on September 9, 1985, under the Securities Contracts (Regulation) Act, 1956, the exchange’s recognition was extended until September 8, 2003. The MGSE received 3 acres (12,000 m2) of land from the state government, and on September 28, 2001, Chief Minister S.M. Krishna laid the foundation stone for the exchange’s new building in Kulur.

Also Read: Difference Between Face Value, Market Value And Book Value Of A Share

8. Vadodara Stock Exchange

The Vadodara Stock Exchange (VSE) was a defunct stock exchange located in Vadodara, India. It was established in 1990 and fully owned by the Government of India. As the only existing stock exchange in the state of Gujarat, alongside Ahmedabad, it held recognition as a permanent stock exchange under the Securities Contract (Regulations) Act of 1956.

Beginning in 1986 with the Vadodara Stock Brokers’ Association, which had 150 members, it evolved and was officially incorporated as Vadodara Stock Exchange Limited on January 22, 1990. By 1999, the exchange had a total of 321 brokers, including 65 corporate brokers, 253 proprietor brokers, and 3 partnership brokers, with 85 registered sub-brokers.

9. Uttar Pradesh Stock Exchange

The UP Stock Exchange (UPSE) is a well-known stock exchange located in Kanpur, India. Since its inauguration on August 27, 1982, by Finance Minister Pranab Mukherjee, it has held a prominent position among stock exchanges in India. Playing a crucial role in the growth of the capital market in North India, UPSE initially had 350 members, which eventually increased to 540.

It stands as the sole stock exchange in the state of Uttar Pradesh, with membership open to individuals beyond Kanpur and even outside the state. The contributions of members residing outside Kanpur have been instrumental in fostering a culture of equity investment throughout Uttar Pradesh.

10. Bangalore Stock Exchange

The Bangalore Stock Exchange (BgSE) was a government-owned public stock exchange located in Bangalore, India. Established in 1963, it boasted a total of 595 listed companies, both regional and non-regional. In 2005, the BgSE announced its intention to become a public entity by divesting at least 51% of its ownership. The stock exchange was overseen by a Council of Management, comprising members appointed by the Securities and Exchange Board of India.

Notably, the BgSE was the first stock exchange in South India to introduce electronic trading of securities in 1996 with the launch of its online trading system, BEST (Bangalore Electronic Securities Trading). By January 7, 2014, the exchange had 330 listed companies. It was one of the popular stock exchanges in India.

Also Read: Top 25 Indian Companies by Market Capitalization

11. Madras Stock Exchange

The Madras Stock Exchange (MSE) was a stock exchange located in Chennai, India. Founded in 1920 on Second Line Beach street in George Town, it was the fourth stock exchange established in the country and the first in South India. Chandulal Motilal Kothari played a key role in its establishment and served as its inaugural president.

Despite its historical significance, the MSE had relatively modest performance compared to other stock exchanges in India, such as the Bombay Stock Exchange and National Stock Exchange of India. In 2001, it had a turnover of Rs 3,090 crore ($440 million), which accounted for less than 3.5% of the total turnover generated by the aforementioned exchanges. The MSE boasted a listing of 1,785 companies and approximately 120 live members until its closure.

12. Cochin Stock Exchange

Cochin Stock Exchange (CSE or CoSE) was an Indian stock exchange located in Kochi, Kerala, and was fully owned by the Government of India. Established in 1978, it reached its pinnacle with nearly 500 Indian companies listed and a daily turnover of Rs 70–100 crores, making it the fourth largest exchange in India. In the early 2000s, the stock exchange relocated to a new building in the Kaloor area of northern Kochi.

Trading hours commenced in the late afternoon, allowing participation from traders across the state. Following the securities scam of the early 1990s, regulatory changes mandated by the Securities and Exchange Board of India (SEBI) required separation of ownership and trading rights, with majority ownership being held by the public without trading rights.

Although the Cochin Stock Exchange ceased operations, Cochin Stock Brokers, which facilitates trading on the Bombay Stock Exchange, and CSE Institute, an educational organization, continue to function.

13. OTC Exchange of India

OTCEI, which stands for the Over-the-Counter Exchange of India, was established in 1990 in accordance with the Companies Act, 1956, and received recognition as a stock exchange under the Securities Contracts Regulation Act, 1956. It began its functioning in 1992 with the primary objective of facilitating small and medium-sized companies’ entry into the capital market. OTCEI operates as a fully computerized exchange system, offering a convenient and streamlined platform for trading.

The trading conducted through its counters or offices via telephones and various communication methods does not rely on a specific geographical area. It serves as a meeting point for buyers and sellers to engage in negotiations and reach mutually acceptable trade terms. OTCEI maintains a select roster of companies, allowing only those with an issued capital of 30 lakh or above to be listed on the exchange.

14. Inter-connected Stock Exchange Ltd.

Inter-connected Stock Exchange Ltd. (ISE) is a stock exchange in India that operates at a national level. It is owned by the Ministry of Finance, Government of India, and is responsible for facilitating trading, clearing, settlement, risk management, and surveillance for its trading members. ISE was established in 1998 in Vashi, Mumbai, and currently has 841 trading members located across 18 cities.

ISE is backed by 12 regional stock exchanges in India and serves as a platform for these exchanges and their 4,500 members to trade and list securities. Essentially, ISE acts as a stock exchange for the stock exchanges themselves, with the members of these regional exchanges engaging in trading activities on the ISE platform.

15. Ludhiana Stock Exchange

The Ludhiana Stock Exchange (LSE), established in 1983 and fully owned by the Government of India, was a defunct stock exchange. By the year 1999-2000, it had a total of 285 brokers, including 79 corporate brokers. On April 6, 1998, LSE became the second bourse in India to introduce a modified carry forward system, following the Bombay Stock Exchange.

LSE also introduced a settlement guarantee fund (SGF) on the same date, which ensured the settlement of transactions, while the carry forward facility provided liquidity to the stock market. Additionally, it became the first exchange in India to establish LSE Securities Ltd., a wholly owned subsidiary that operated as a sub-broker for the NSE. Furthermore, in 1998, the exchange received permission to commence derivative trading. It was one of the popular stock exchanges in India.

16. Bhubaneswar Stock Exchange

The Bhubaneswar Stock Exchange (BhSE) was a stock exchange located in Bhubaneswar, Odisha, India. It was incorporated on 17 April 1989 and received recognition from the Ministry of Finance, Government of India on 5 June 1989. As one of the 21 regional stock exchanges in India, it had a significant presence by 1999-2000, with a total of 234 brokers, including 15 corporate brokers.

However, as of now, the trading membership stands at 196, compared to the sanctioned strength of 350. On 15 September 2005, the Securities and Exchange Board of India (SEBI) approved the corporatisation and demutualisation schemes of the Bhubaneshwar Stock Exchange, complying with the Securities Contracts (Regulation) Act, 1956.

17. Coimbatore Stock Exchange

Coimbatore Stock Exchange Limited (CSE) was an inactive stock exchange located in Coimbatore, India. It received recognition as a stock exchange from the Securities and Exchange Board of India (SEBI) in 1991. However, in 1999, the exchange allowed its members to provide unlimited personal guarantees to other exchanges.

In 2006, CSE failed to renew its license with SEBI, and in 2009, it formally requested to cease its trading operations. By that time, there were 170 listed companies on the exchange. The emergence of online trading on larger stock exchanges in India led to the dormancy of the Coimbatore Stock Exchange in the early 2000s.

18. Magadh Stock Exchange Association

Located in Patna, India, Magadh Stock Exchange Association Ltd (MSEA) was established in 1986 as one of the regional stock exchanges in India. By the year 1999-2000, the exchange had a total of 199 brokers, including 15 corporate brokers. In September 2005, the Magadh Stock Exchange underwent corporatization and demutualization, aligning with the provisions of the Securities Contracts (Regulation) Act, 1956.

Notably, on August 17, 2000, it became the sole regional stock exchange in the country to trade on the National Stock Exchange of India (NSE), Bombay Stock Exchange (BSE), Calcutta Stock Exchange (CSE), and the Interconnected Stock Exchange (ISE), achieving connectivity with NSE through ISE.

19. Trivandrum Stock Exchange

Trivandrum Stock Exchange Limited, a non-government company established on October 12, 1990, operates as a public unlisted company and falls under the category of a company limited by shares. The company holds an authorized capital of Rs 1.0 lakhs, with 24.8% of the capital being paid-up, amounting to Rs 0.25 lakhs.

With over 33 years of experience, Trivandrum Stock Exchange Limited primarily operates in the finance sector. However, the company’s current status is listed as strike off, indicating that its operations are currently inactive.

20. Hyderabad Stock Exchange

The Hyderabad Stock Exchange (HSE) was established in 1941 in Hyderabad, India. It received recognition from the Government of India on September 29, 1958, when the Securities Regulation Act was made applicable to the twin cities of Hyderabad and Secunderabad. The exchange experienced significant growth in trading activities, leading to its permanent recognition on September 29, 1983.

Over the years, the number of exchange members grew from 55 in 1943 to 117 in 1993, and by March 31, 2000, there were 300 members and 869 listed companies with a paid-up capital of Rs 19128.85s. During the fiscal year 1999-2000, the exchange witnessed a substantial increase in business turnover, reaching Rs 1236.51 crores. Additionally, the exchange boasted a smooth settlement system.

21. Saurashtra Kutch Stock Exchange

Saurashtra Kutch Stock Exchange Limited (SKSE), located in Rajkot, Gujarat, is one of the three stock exchanges in the region. Established in July 1989 and recognized by the Indian government, SKSE initially experienced high trading volume, with brokers conducting significant transactions on the trading floor.

However, with the advent of the National Stock Exchange and online computerized trading, regional stock exchanges in India, including SKSE, witnessed a decline in trading volume. This decrease in activity led to reduced liquidity, volume, and depth, presenting challenges for this regional stock exchange. Later, SKSE has established SKSE Securities Limited, its wholly owned subsidiary, which has obtained membership of BSE and NSE, along with SEBI registration and trading permission from both stock exchanges in Mumbai.

22. Ace Derivatives and Commodity Exchange Limited

Ace Derivatives and Commodity Exchange Limited is an online derivatives exchange for commodities with the Kotak Group as its majority stakeholder. With over 50 years of experience in the commodity business, Ace is known for its transparent practices. It offers futures trading in agricultural products, bullion, base metals, and energy, providing market participants with a world-class platform to manage risks and simplify commodity price complexities.

Ace prides itself on having the lowest latency trading platform, setting the industry standard for fast trade synchronization and price information dissemination. Additionally, it ensures a secure clearing and settlement infrastructure that handles trade registration, contract settlement, and counterparty risk mitigation, offering traders peace of mind during times of market volatility.

23. Hapur Commodity Exchange Limited

Hapur Commodity Exchange Limited is a non-governmental company established on October 19, 1923. It is classified as a public unlisted company and operates as a company limited by shares. The company has an authorized capital of Rs 500.0 lakhs, with only 0.04% of the capital paid-up, amounting to Rs 20,000.

The last Annual General Meeting (AGM) took place on September 29, 2017, and the company’s financials were last updated on March 31, 2017, according to the Ministry of Corporate Affairs (MCA). Despite being in the null business for the past 100 years, Hapur Commodity Exchange Limited remains active in its operations.

24. Universal Commodity Exchange (UCX)

Universal Commodity Exchange (UCX) was India’s sixth national commodity exchange, launched in 2012 but closed down in 2014 due to regulatory action. The exchange was founded by Ketan Sheth of Commex Technology Ltd, with shareholders including IDBI Bank, IFFCO, National Bank for Agriculture and Rural Development, and Rural Electrification Corporation. UCX received government approval and certification in August 2012 and commenced operations in April 2013 under the leadership of Praveen Pillai as Managing Director and CEO.

The company had an authorized capital of Rs 11,000.0 lakhs, with 90.909096% paid-up capital amounting to Rs 10,000.0 lakhs. UCX’s last annual general meeting took place on December 23, 2014, and its financials were last updated on March 31, 2014. Currently, the company’s operations are inactive as it is struck off.

25. Rajkot Commodity Exchange Limited

Rajkot Commodity Exchange Limited is a public limited manufacturing company established in 1951, headquartered in Rajkot. It is registered with the Registrar of Companies, Ahmedabad (RoC-Ahmedabad) and categorized as an Indian Non-Government Company. The company’s authorized share capital and paid-up capital are both listed as INR 0.

According to official records, the company engages in various activities, including the preparation of jute/mesta and yarn from natural and blended natural fibers (excluding charkha), as well as the spinning of jute, mesta, and other natural fibers. Additionally, it specializes in the spinning of jute/mesta (excluding charkha).

Also Read: 9 Best Websites to Learn Virtual Stock Trading in India

26. Spices And Oilseeds Exchange Limited

Spices And Oilseeds Exchange Limited is a public limited wholesaler company registered in 1953. It operates in the city of Sangli and is classified as an Indian Non-Government Company, duly registered at the Registrar of Companies, Pune (RoC-Pune). The company’s authorized share capital is INR 0, and its paid-up capital is also INR 0.

According to official records, the major activities of the company include wholesale trading of edible oils, fats, processed and manufactured spices, and sugar. In summary, Spices And Oilseeds Exchange Limited is engaged in the wholesale distribution of edible oils, fats, sugar, and processed spices.

27. Cotton Association of India (CAI)

The Cotton Association of India (CAI) has been actively involved in serving the entire cotton value chain since its establishment in 1921. It represents all segments of the cotton trade and textile industry in the country. CAI is affiliated with 17 Regional Cotton Associations and 4 Co-operative Marketing Societies, which collectively represent all cotton-producing regions in India. These associations and societies have Associate Directors on CAI’s Board.

Some of the key functions performed by CAI include providing cotton testing services at multiple locations, maintaining Indian Cotton Grade Standards, determining daily spot rates for major varieties of Indian cotton, offering an arbitration and conciliation mechanism for resolving cotton trade disputes, undertaking cotton developmental activities in collaboration with farmers through its research wing called COTAAP Research Foundation, and issuing Certificates of Origin to Indian cotton exporters.

28. Bombay Commodity Exchange Limited

The Bombay Commodity Exchange Limited is a public company operating as a Guarantee and Association Company. It is classified as a company limited by guarantee. The company’s authorized capital is Rs 0.0 lakhs, and the paid-up capital stands at NaN%, which is Rs 0.0 lakhs. The primary business of the company is currently NA, and its operations are active. The company is registered at the Registrar Office in Mumbai, Maharashtra.

29. India Pepper and Spice Trade Association, Kochi

India Pepper and Spice Trade Association, Kochi (IPSTA) is a highly esteemed organization in India that specializes in pepper and spice trading. It is renowned for its expertise in the field and serves as a leading authority in the industry. IPSTA offers real-time rates for Black Pepper, which serves as a foundational commodity with significant trading potential on their platform.

With a strong focus on domain knowledge, IPSTA attracts members who possess extensive expertise in the spice trade. The organization provides a reliable and cost-effective trading platform, leveraging technology and innovative solutions to enhance the trading experience for its members.

In conclusion, there are several prominent stock exchanges in India that facilitate the trading of securities. Though NSE and the BSE are more well-known, all the operating exchanges render the facility to trade in numerous financial segments. They play a crucial role in the country’s capital market and contribute to its economic growth. You have the option to choose to invest in any exchange that captures your interest, but it is important to do so wisely and with careful consideration.

Happy investing!