Systems audit: Bombay Stock Exchange
Summary :
Table of Contents
- Introduction
- Background study of the stock exchange
- Importance of stock exchanges
- Background study of the Bombay Stock Exchange (BSE)
- Vision of BSE
- Product and services offerered by BSE
- Definitions and types of derivatives products
- An overview of BSE's On-line Trading System (BOLT)
- Market information
- Backdated trades/broker query files
- Overview of Intermediate Message Layer (IML) by BSE
- A study of client-broker relationship
- Suggestions
- Bibliography and websites
- Conclusion
Abstract
Indian capital markets have witnessed radical transformation during the short period of a decade. There is hardly any country in the world which has witnessed such massive changes in its capital market during such a short period. During the early part of the 1990s, ranking of the Indian capital market with reference to the standard global indices relating to efficiency, safety, market integrity, etc was not at all flattering. With reference to the risk indices in particular, the Indian capital market was regarded as one of the worst as it figured almost at the bottom of the league. The same was the case in regard to its efficiency levels in trading and settlement systems. Strangely, not many people appeared to be bothered about the dismal state of our capital markets. As we are all accustomed to find India figuring in the bottom league in regard to so many other indicators of development such as per capita income, nutritional standards, and health amenities to citizens, literacy levels, etc we did not feel sorry to note that Indian capital market was also ranked at the bottom of the global ranking sheet. Interestingly, however, the same cannot be said about the current state of the Indian capital markets. From the viewpoint of both adoption of sophisticated information technology tools in trading and settlement mechanisms as also efficiency of capital markets, not only is India ranked in the top league but that it is also considered to be way ahead of many developed country capital markets.
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