Membership Application - Business Exchange: Fill & Download for Free

The meaning is not entirely clear, which would be surprising if it is the exact wording from the library or an other academic institution. However, it may well have been written down from memory, and it is veey easy for errors to creep in when the words are unfamiliar.A sponsor is a person, business or body that enables another to have access to something, either by providing the funding (perhaps in exchange for advertising) or by authorising them (by vouching that they are a legitimate user of the service or opportunity).In the context of applying for membership of the library, the student is required to complete the membership application form and also get it authorised by the Principal to confirm that you are a student at that institution and therefore entitled to use the library.It is possible that the phrase, “get it sponsored” by the Principal may have been used, or a reference to asking the principal to sign it as your sponsor. The wording given, “sponsor the library membership application form from principal”, doesn't sound correct as I would expect “by" as in “get the form signed or authorised or (possibly) sponsored by the Principle”.It could mean that you are being told to get the form itself from the Principal's Office, although it would seem more likely that you would either get it from the library or download it from the library website.

FormationThe National Stock Exchange of India was promoted by leading financial institutions at the behest of the Government of India, and was incorporated in November 1992 as a tax-paying company. In April 1993, it was recognized as a stock exchange under the Securities Contracts (Regulation) Act, 1956. NSE commenced operations in the Wholesale Debt Market (WDM) segment in June 1994. The Capital Market (Equities) segment of the NSE commenced operations in November 1994, while operations in the Derivatives segment commenced in June 2000.Bombay Stock Exchange Limited is the oldest stock exchange in Asia with a rich heritage. Popularly known as "BSE", it was established as "The Native Share & Stock Brokers Association" in 1875. It was the first stock exchange in the country to obtain permanent recognition in 1956 from the Government of India under the Securities Contracts (Regulation) Act, 1956. Earlier an Association of Persons (AOP), the Exchange is now a demutualised and corporatised entity incorporated under the provisions of the Companies Act, 1956, pursuant to the BSE (Corporatisation and Demutualisation) Scheme, 2005 notified by the Securities and Exchange Board of India (SEBI). Bombay Stock Exchange Limited received its Certificate of Incorporation on 8th August, 2005 and Certificate of Commencement of Business on 12th August, 2005. The Exchange has succeeded the business and operations of BSE on going concern basis and its recognition as an Exchange has been continued by SEBI.MembersWhile the BSE has over 874 members-brokers across the country, NSE has more than ,1000 members. In NSE, a prospective trading member is admitted to any of the following combinations of market segments: Wholesale Debt Market segment, Capital Market (CM) and the Futures and Options segments, CM Segment and the WDM segment, or CM Segment, the WDM and the F and O segment. There is no such thing at BSE and members join as any of the following : Trading Members, Trading cum Clearing Members, Professional clearing member, Limited trading member and Self Clearing member.For NSE: In order to be admitted as a trading member, the individual trading member/at least two partners of the applicant firm/at least two directors of the applicant corporate must be graduates and must possess at least two years' experience in securities markets. The applicant for trading membership/any of its partners/shareholders/directors must not have been declared defaulters on any stock exchange, must not be debarred by SEBI for being associated with capital market as intermediaries and must not be engaged in any fund-based activity. The trades executed on the Exchange may be cleared and settled by a clearing member. There is a special category of members, called professional clearing members (PCMs), who do not trade but only clear trades executed by others.The initial joining fee for a member at BSE is Rs. 90 Lakhs while that for an NSE member is between 100 to 300 Lakh depending on the kind of membership one chooses.In addition to annual fees, NSE members are required to pay transaction charges on trades undertaken by them. They pay transaction charge at the rate of Rs. 3.5 for every Rs. 1 lakh of turnover in the CM segment. The transaction charges payable to the exchange by the trading member for the trades executed by him on the F&O segment are fixed at the rate of Rs. 2 per lakh of turnover (0.002%) subject to a minimum of Rs. 1,00,000 per year.At BSE, these fees differ according to the various types of members.For BSE, the requirements to becoming a member are:Authorized By NSC As A Brokerage HouseAuthorization Of BSENegotiation From NSCTrained Staff At BSE(Brokers, Traders, Accountants)Data On Member RegistrationCompany By-LawsMembership FeeFinancial StatementsCompany Mission StatementsHandbook On Internal Operations & ControlPersonal Information File For Management And Specialized StaffContribution To The Guarantee FundPayment For The Licensed Access To Use The Operating SystemListingListing means formal admission of a security to the trading platform of the Exchange. In BSE, the securities may be of any public limited company, Central or State Government, quasi governmental and other financial institutions/corporations, municipalities, etc. The objectives of listing are mainly to :provide liquidity to securities; mobilize savings for economic development; protect interest of investors by ensuring full disclosures. The Exchange has a separate Listing Department to grant approval for listing of securities of companies in accordance with the provisions of the Securities Contracts (Regulation) Act, 1956, Securities Contracts (Regulation) Rules, 1957, Companies Act, 1956, Guidelines issued by SEBI and Rules, Bye-laws and Regulations of the Exchange. A company intending to have its securities listed on the Exchange has to comply with the listing requirements prescribed by the Exchange. Some of the requirements are:Minimum Listing Requirements for new companiesMinimum Listing Requirements for companies listed on other stock exchangesMinimum Requirements for companies delisted by this Exchange seeking relisting of this ExchangePermission to use the name of the Exchange in an Issuer Company's prospectusSubmission of Letter of ApplicationAllotment of SecuritiesTrading PermissionRequirement of 1% SecurityPayment of Listing FeesCompliance with Listing AgreementCash Management Services (CMS) - Collection of Listing FeesAt NSE, the following criterias are to be fulfilled when one applies to be listed:Approval of Memorandum and Articles of AssociationApproval of draft prospectusSubmission of ApplicationListing conditions and requirementsOnce a company fulfils these criterias then they have to submit the following to the board:A brief note on the promoters and management.Company profile.Copies of the Annual Report for last 3 years.Copies of the Draft Offer Document.Memorandum & Articles of Association.The listing fees depend on the companies paid up capital at both NSE and BSE. While the initial listing fee at NSE is Rs.7,500, it is Rs.20,000 at BSE. The annual listing fees for a company with a paid up capital upto Rs. 5 Crores is Rs. 10,000 at BSE while it is Rs. 8,400 at NSE. For a company with paid up capital between 5 to 10 crores, BSE charges Rs. 15,000 while NSE charges Rs. 10,000.IndicesThe main Index of BSE is SENSEX while that of NSE is CNX Nifty. The other indices at BSE are: BSE 500, BSE 100, BSE 200, BSE PSU, BSE MIDCAP, BSE SMLCAP, BSE BANKEX, BSE Teck, BSE Auto, BSE Pharma, BSE Fast Moving Consumer Goods (FMCG), BSE Consumer Durables (SYMBOL: Cons Dura), BSE Metal.NSE also set up as index services firm known as India Index Services & Products Limited (IISL) and has launched several stock indices, including: S&P CNX Nifty, CNX Nifty Junior, CNX 100 (= S&P CNX Nifty + CNX Nifty Junior), S&P CNX 500 (= CNX 100 + 400 major players across 72 industries), CNX Midcap (introduced on 18 July 2005 replacing CNX Midcap 200).Ref: Page on nseindia.coBSE Ltd. (Bombay Stock Exchange)National Stock Exchange of IndiaBombay Stock ExchangeBSE vs NSE - Difference and Comparison

What is procedure to start private stock exchange in India?We have only BSE and NSE. Can someone start a private stock exchange?In India the stock exchanges are primarily governed and regulated by Securities Contracts (Regulation) Act, 1956.There is nothing called as Private Stock Exchange. The term used in SCRA is recognized stock exchange. As per the Section 19(1) of the said Act Stock Exchanges other than recognized stock exchanges are prohibited.Anyone can start a stock exchange in accordance with the SCRA and other applicable rules and regulations. The relevant portion of SCRA dealing with Application for recognition of stock exchanges and Grant of recognition to stock exchanges are as under:Application for recognition of stock exchanges.3. (1) Any stock exchange, which is desirous of being recognised for the purposes of this Act, may make an application in the prescribed manner to the Central Government.(2) Every application under sub-section (1) shall contain such particulars as may be prescribed, and shall be accompanied by a copy of the bye-laws of the stock exchange for the regulation and control of contracts and also a copy of the rules relating in general to the constitution of the stock exchange and in particular, to—(a) the governing body of such stock exchange, its constitution and powers of management and the manner in which its business is to be transacted;(b) the powers and duties of the office bearers of the stock exchange;(c) the admission into the stock exchange of various classes of members, the qualifications for membership, and the exclusion, suspension, expulsion and re-admission of members therefrom or thereinto;(d) the procedure for the registration of partnerships as members of the stock exchange in cases where the rules provide for such membership; and the nomination and appointment of authorised representatives and clerks.Grant of recognition to stock exchanges.4. (1) If the Central Government26 is satisfied, after making such inquiry as may be necessary in this behalf and after obtaining such further information, if any, as it may require,—(a) that the rules and bye-laws of a stock exchange applying for registration are in conformity with such conditions as may be prescribed with a view to ensure fair dealing and to protect investors;(b) that the stock exchange is willing to comply with any other conditions (including conditions as to the number of members) which the Central Government, after consultation with the governing body of the stock exchange and having regard to the area served by the stock exchange and its standing and the nature of the securities dealt with by it, may impose for the purpose of carrying out the objects of this Act; and(c) that it would be in the interest of the trade and also in the public interest to grant recognition to the stock exchange; it may grant recognition to the stock exchange subject to the conditions imposed upon it as aforesaid and in such form as may be prescribed.(2) The conditions which the Central Government27 may prescribe under clause (a) of sub-section (1) for the grant of recognition to the stock exchanges may include, among other matters, conditions relating to,—(i) the qualifications for membership of stock exchanges;(ii) the manner in which contracts shall be entered into and enforced as between members;(iii) the representation of the Central Government on each of the stock exchange by such number of persons not exceeding three as the Central Government may nominate in this behalf; and(iv) the maintenance of accounts of members and their audit by chartered accountants whenever such audit is required by the Central Government.(3) Every grant of recognition to a stock exchange under this section shall be published in the Gazette of India and also in the Official Gazette of the State in which the principal office as of the stock exchange is situate, and such recognition shall have effect as from the date of its publication in the Gazette of India(4) No application for the grant of recognition shall be refused except after giving an opportunity to the stock exchange concerned to be heard in the matter; and the reasons for such refusal shall be communicated to the stock exchange in writing.(5) No rules of a recognised stock exchange relating to any of the matters specified in sub-section (2) of section 3 shall be amended except with the approval of the Central Government.As stated in the question BSE and NSE are not the only stock exchanges in India. As on January 27, 2017 following is the list of 19 recognized stock Exchanges under the Securities Contracts (Regulation) Act, 1956 along with validity of recognition granted is as under:1. India International Exchange (IFSC) Limited -Upto 28-Dec-20172. Ace Derivatives and Commodity Exchange Limited, Mumbai (#) -Permanent3. Ahmedabad Stock Exchange Ltd. -Permanent4. BSE Ltd. -Permanent5. Bombay Commodity Exchange Ltd., Vashi (#) -Permanent6. Calcutta Stock Exchange Ltd. -Permanent7. Cotton Association of India, Mumbai (#) -Permanent8. Delhi Stock Exchange Ltd.,The -Permanent9. Hapur Commodity Exchange Limited (#) -Upto 28-Feb-201810. India Pepper & Spice Trade Association., Kochi (#) -Permanent11. Indian Commodity Exchange Limited, New Delhi -Permanent12. Metropolitan Stock Exchange of India Ltd. -Upto 15-Sep-201713. Multi Commodity Exchange of India Ltd., Mumbai (#) -Permanent14. National Commodity & Derivatives Exchange Ltd., Mumbai (#) -Permanent15. National Multi Commodity Exchange of India Limited., Ahmedabad (#) -Permanent16. National Stock Exchange of India Ltd. -Permanent17. Rajkot Commodity Exchange Ltd., Rajkot (#) -Upto 31-March-201818. Spices and Oilseeds Exchange Ltd., Sangli (#) -Permanent19. Universal Commodity Exchange Ltd., Navi Mumbai (#) -Permanent(#) Pursuant to Section 131 of Finance Act, 2015 and Central Government notification http://F.No. 1/9/SM/2015 dated 28th August, 2015 all recognized associations (Commodity derivatives exchanges) under the Forward Contracts (Regulation) Act, 1952 (FCRA) as on September 28, 2015 are deemed to be recognized stock Exchanges under the Securities Contracts (Regulation) Act, 1956 (SCRA).There were few more exchanges in past however, The Hyderabad Securities and Enterprises Ltd (erstwhile Hyderabad Stock Exchange), Coimbatore Stock Exchange Ltd, Saurashtra Kutch Stock Exchange Ltd ,Mangalore Stock Exchange, Inter-Connected Stock Exchange of India Ltd, Cochin Stock Exchange Ltd, Bangalore Stock Exchange Ltd , Ludhiana Stock exchange Ltd, Gauhati Stock Exchange Ltd, Bhubaneswar Stock Exchange Ltd, Jaipur Stock Exchange Ltd, OTC Exchange of India , Pune Stock Exchange Ltd, Madras Stock Exchange Ltd, U.P.Stock Exchange Ltd, Madhya Pradesh Stock Exchange Ltd and Vadodara Stock Exchange Ltd have been granted exit by SEBI vide orders dated January 25, 2013, April 3, 2013, April 5, 2013, March 3, 2014, December 08, 2014, December 23, 2014, December 26, 2014, December 30, 2014, January 27, 2015, February 09, 2015, March 23, 2015, March 31, 2015 ,April 13, 2015, May 14, 2015, June 09, 2015 and November 09, 2015 respectively. Further, SEBI vide order dated September 3, 2007 refused to renew the recognition granted to Magadh Stock Exchange Ltd.Sources:Securities and Exchange Board of India -http://www.sebi.gov.in/cms/sebi_data/attachdocs/1444898310496.pdf