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BSE plans to become a corporate by 2001

The Bombay Stock Exchange, India's premier bourse, has decided to become a corporate body. Ownership will be separated from membership. The corporatisation process is expected to be completed by 2001.

"The exchange, which has been set up as a trust, has to be first converted into a company and the legal issues are yet to be worked out, before we can talk about going public and whether it would be listed on the BSE itself or elsewhere," media reports quoted BSE president Anand Rathi as saying.

A seven-member committee, comprising members of the BSE governing board, has been set up for detailing the plan. It is learnt a final decision would be taken by March 2000. The board is yet to decide on the legal structure for the exchange.

Interview with Anand Rathi: 'I shall seek more powers for the BSE...'

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