Calcutta Stock Exchange seeks SEBI nod for setting up clearing corporation

The Calcutta Stock Exchange (CSE), which had seen a halt in its trading activity since 2013, was striving to restore its glory by setting up a clearing corporation as a separate legal entity. The iconic stock exchange wanted trading on C-Star (the online platform of CSE), which was stopped by the Securities and Exchange Board of India (Sebi) in April 2013, to resume, an official close to the development told PTI. “The CSE has written to Sebi seeking in-principal approval to set up a clearing corporation,” he said. The official said the CSE had already formed its clearing corporation —Lyons Range Securities Clearing Corporation —and necessary applications were filed for incorporation on the Union Ministry of Corporate Affairs (MCA) portal.