Madras Stock Exchange (MSE), the fist Stock Exchange in the southern part of the country was established in 1937. The stakeholders of the Exchange include Financial Institution of the Tamil Nadu State Government, leading corporate houses, high net-worth individuals and Trading Members of the Exchange.

MSE has a strategic arrangement with the National Stock Exchange. According to available data, its turnover of Rs 109 crores (25 million USD) is a fraction (below 0.1%) of the turnover generated by the Bombay Stock Exchange and NSE.  It has just about 120 live members and 1,785 companies listed, according to sources.

Don’t we have industrialists and businessmen of strength and standing? Don’t we have bright and smart investors?  It is indeed unfortunate that the MSE has not been able to play a role that is anywhere close to the one played by the BSE.

I am happy; there are positive indications for its expansion. According to  MSE Director S Venkateswaran, efforts are on to set up MSE's own trading platform for providing liquidity for the share of companies exclusively listed in MSE so that in due course, these companies will also adapt to the standards fixed by NSE and graduate to NSE platform. Other products offered by NSE such as currency futures and interest rate futures will be available for trading to members of MSE in the near future.

MSE has also planned to increase its membership strength to 500 by 2011.  The trading terminals of members of MSE would be expanded throughout the country and there is a proposal to set up more investor service centres at all important cities in TamilNadu.

Apart from the efforts taken by the MSE, the stake-holders, the industrialists and business magnates have to put their shoulder to the wheel to elevate our own Stock Market to the national level.