Bombay Stock Exchange waiting for SEBI's approval for SME exchange

Bombay Stock Exchange (BSE) expects to launch its small-and-medium-enterprises (SME) exchange platform by the second-half of 2011, a senior Exchange official said.

"We have already applied for SEBI licence and are expecting approval shortly. We plan to roll-out the SME exchange in the second-half of this year once we receive the necessary clearances," BSE's managing director and chief executive, Madhu Kannan, told Press Trust of India on the sidelines of an event in Mumbai today.

The BSE plans to start a separate platform for SMEs to enable the latter to raise money from the market. The National Stock Exchange (NSE) and privately-promoted MCX SX, have also applied for Securities and Exchange Board of India (SEBI)  permission to launch SME exchanges last June.

Last year, the market regulator had laid the groundwork to allow small-and-medium enterprises to list on SME exchanges.

"We are ready with all the necessary infrastructure to launch the exchange. We are also in talks with some merchant bankers and brokers for their feedback," he said.