DEFINITION of 'Calcutta Stock Exchange (CAL) .CL '

The securities market in Calcutta, India. The country's second-oldest exchange began in 1908 as the Calcutta Stock Exchange Association with the trading of securities in the East India Company. At this time, it had 150 members. In 1923, the Association became a limited liability concern. In 1980, the exchange was permanently recognized by India's government. In 1997, The Exchange was the largest in the country, and it replaced its manual trading system with a computerized trading system called C-Star.

BREAKING DOWN 'Calcutta Stock Exchange (CAL) .CL '

C-Star was subject to a major payment settlement system scam in 2001 that closed down the exchange and resulted in the suspension of 300 CSE members, many of whom were able to get their licenses back several years later. Many companies delisted from the CSE and joined the Bombay Stock Exchange (BSE) or National Stock Exchange instead. In 2007, the CSE entered a piggyback arrangement with the BSE. 2,500 companies are listed exclusively on the CSE, but critics say that there are not enough companies in East India and that very few of CSE's exclusive listings are good companies.

RELATED TERMS
  1. Cincinnati Stock Exchange - CSE

    A securities exchange formed in 1885 by a group of Cincinnati ...
  2. Copenhagen Stock Exchange - CSE

    The Copenhagen Stock Exchange serves as Denmark's official market ...
  3. Bombay Stock Exchange (BSE) .BO

    The first and largest securities market in India, the Bombay ...
  4. National Commodities And Derivatives ...

    India's largest and most recognized commodities exchange, which ...
  5. Foreign Exchange Dealers Association ...

    An association of banks specializing in the foreign exchange ...
  6. Over-The-Counter Exchange Of India ...

    An electronic stock exchange based in India that is comprised ...
Related Articles
  1. Investing

    Bombay Stock Exchange CEO Ashish Chauhan on India Rising

    India's largest stock exchange is hitting its stride. We talk with CEO Ashish Chauhan in New York.
  2. Financial Advisor

    India: Why it Might Pay to Be Bullish Right Now

    Many investors are bullish on India for all the right reasons. Does it present an investing opportunity?
  3. Investing

    An Introduction To The Indian Stock Market

    Most trading in the Indian stock market occurs through its two exchanges – the Bombay Stock Exchange and the National Stock Exchange.
  4. Retirement

    Can You Retire in India with $200,000 in Savings?

    India's cost-of-living ranks among the lowest in the world, but retiring there presents some challenges unrelated to finances.
  5. Investing

    How India Makes Money

    India currently has the ninth largest nominal GDP (and third largest in PPP) in the world.
  6. Insights

    The Birth Of Stock Exchanges

    Learn how British coffeehouses helped give rise to the juggernaut that is the NYSE.
  7. Investing

    An Introduction To The Indian Stock Market

    Emerging markets like India are fast becoming engines for future growth. Find out how to get in on the ground floor.
  8. Insights

    Understanding the Trends Driving India's Rise

    Numerous factors support India’s rise as a global superpower and will help the economy continue on a high and sustainable growth path.
  9. Investing

    Top 4 Mutual Funds With Exposure to India

    Discover four mutual funds that invest in India and how these emerging market portfolios are poised to take advantage of rapid growth in the nation's economy.
  10. Investing

    Stock Exchanges: A Global Tour

    Check out the history and inner workings of the world's six most well-known stock exchanges.
RELATED FAQS
  1. What are the most common market indicators to follow the Indian stock market and ...

    Learn about the most common market indicators used to follow the Indian stock market, including its two major exchanges: ... Read Answer >>
  2. What are the rules behind the delisting of a stock?

    The criteria to remain listed on an exchange differs from one exchange to another. On the New York Stock Exchange (NYSE), ... Read Answer >>
  3. Can stocks be traded on more than one exchange, such as, for example, on both the ...

    A stock can trade on any exchange on which it is listed. And to be listed it must meet all of the exchange's listing requirements ... Read Answer >>
  4. How does a company switch from one stock exchange to another?

    A publicly traded company can, in fact, switch to a stock exchange that it believes will be favorable to its financing efforts. ... Read Answer >>
  5. Is short selling allowed in India?

    In March, 2001, the Securities and Exchange Board of India (SEBI) banned short selling in the Indian stock market. The ban ... Read Answer >>
  6. What are the historical beginnings of the securities industry?

    Learn the history of securities trading, beginning in 12th century France and leading to world financial market centers in ... Read Answer >>
Hot Definitions
  1. Federal Direct Loan Program

    A program that provides low-interest loans to postsecondary students and their parents. The William D. Ford Federal Direct ...
  2. Cash Flow

    The net amount of cash and cash-equivalents moving into and out of a business. Positive cash flow indicates that a company's ...
  3. PLUS Loan

    A low-cost student loan offered to parents of students currently enrolled in post-secondary education. With a PLUS Loan, ...
  4. Graduate Record Examination - GRE

    A standardized exam used to measure one's aptitude for abstract thinking in the areas of analytical writing, mathematics ...
  5. Graduate Management Admission Test - GMAT

    A standardized test intended to measure a test taker's aptitude in mathematics and the English language. The GMAT is most ...
  6. Magna Cum Laude

    An academic level of distinction used by educational institutions to signify an academic degree which was received "with ...
Trading Center