Are there net benefits in ‘net’ trading?
Mumbai: The department of telecommunications is charging brokers Rs.15 lakh for trading over the Internet. The fee is charged for a 64 kbps line that connects closed user groups. Such a user group is nothing but a connection of several wide area networks. Stock exchange officials have protested, saying the fee is exorbitant.

At present, brokers are not allowed connect their trading terminals to the network that provides the quotes. Internet trading in the country has not picked up in the country since networks cannot connect. In August 1999, the government had permitted the connectivity between closed user groups. The DoT has fixed the annual licence fees for interconnectivity at Rs.15 lakh.
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StanChart to issue debt
Mumbai: Standard Chartered Bank is planning to make a 10-year, subordinated debt issue of Rs.195 crore in October 1999. The coupon is expected to be between 12.90 - 12.95 per cent.

The bank is raising funds to enhance its tier-II capital. The bank has to adhere to the capital adequacy norms of 9 per cent for the financial year 1999-2000. Currently the bank’s capital adequacy ratio is 8.3 per cent, which will go up to somewhere around 11 per cent after the issue.
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NSDL, CDSL get connected
Mumbai: The National Securities Depository Ltd. and the Central Depository Services Ltd. got inter-connected on 18 September 1999. Connectivity will facilitate inter-depository transfers.

Inter-depository transfers would be rejected only when there is non-availability of balance or when there is an order mismatch between the two depositories.
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Keen elections seen for the post of CSE president
Calcutta: The Calcutta Stock Exchange elections for the posts of president, vice president will be conducted on 20 September 1999. Kamal Parekh, J M Choudhary and Dilip Kumar Khandelwal are expected to be front-runners for the president’s post.
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