Office assistant at Ahmedabad Stock Exchange is now a director at BSE

From an office assistant in Ahmedabad Stock Exchange (ASE) to a director in the Bombay Stock Exchange (BSE), Anil Maneklal Shah, 47, has made a bullish run in 20 years. Shah has been appointed a trading-member director at BSE.

“Probably, I am the first person from ASE to become a director in the 12-member executive committee of BSE. In the past, many Gujaratis had become members of the committee but I am the only one from Ahmedabad to become one so far,” Shah told DNA on Wednesday.

Shah was an assistant to a stockbroker at ASE in 1991. He, however, learnt the stock trading tricks very fast. Now, after 20 years, he has climbed the ladder to a respectable position, thanks to his knowledge and understanding of the capital market.

After completing his graduation in commerce from Gujarat University and then a diploma in printing technology, Shah took the plunge in capital market by becoming an assistant in ASE in 1991. Within a year, Shah started his own trading activity as stockbroker in 1992 and by 1998, he set up his own company, Span Caplease Pvt Ltd, and obtained membership of ASE.

About his role as trading-member director in the BSE committee, Shah says that he will focus on expanding the volume of derivative segment of BSE. “At present, the trading volume of the bourse is almost zero, while other stock exchanges have a daily volume of over Rs80,000 crore. We have set a target to take the volume of our stock exchange to Rs40,000 crore-Rs50,000 crore,” said Shah. At present, the market conditions are not so good, hence the retail participation is reducing day by day. “Derivative is such a segment which attracts speculators. The volume of derivatives has not been affected much with volatility in stock markets,” said Shah. He says BSE is working on a special plan to launch the derivative segment. “The derivative segment is for speculators and for them, we are coming up with a special product which will be launched soon,” he said.

He will be stationed in Ahmedabad. “After becoming a director at BSE, I might have to visit Mumbai eight to ten days in a month. Annually, around six board meetings take place,’’ said Shah. Shah is also a member of BSE Broker Forum, Association of National Stock Exchanges Member of India and Commodity Participant Association of All India.