On-Line Computerised Trading System in Calcutta Stock
Exchange
The Calcutta Stock Exchange has implemented
a fully computerised On-Line Trading System known as C-STAR (CSE ONLINE Screen-based Trading
And Reporting System) in 1997. The main system hardware is a
Tandem S74000 series machine with customised software prepared by CMC Ltd. for both
Local Area Network and Wide Area Network to broker offices in various parts of India apart
from Calcutta and its outskirts. The local area network technology used in
state-of-the-Art with optical fibre cables being used to hook up individual terminals with
the main system. A dual ring topology has been used in case of failure of one
communication line. The wide area network works on Router/Modem through Leased Circuits.
CSE uses higher end fault tolerant systems for its trading and related functionalities. It
uses Integrity Non-stop S74000 systems for its online trading systems (CSTAR). The systems
have been designed to deliver the best performance without compromising on key factors of
availability, scalability, ROI and TCO.
An additional Disaster Recovery System to
take care of natural calamities/unexpected breakdowns consisting of a Tandem S74000 series
machine has also been installed at a site away from the main system. Individual broker
workstations comprise Intel Pentium based personal computers with super VGA Colour
Monitors and working under Microsoft Windows operating system (Compatible with both
Windows NT Workstation and Windows 2000 Professional Operating Systems). A contingency
pool capable of accommodating around 50 brokers has also been set up to help members in
case of exigencies (earlier it used to accomodate 200 people). The entire project was
carried out by CMC Ltd.
The Exchange had transferred 101
"B" group non- specified scrip of the On-Line Trading Environment with effect
from 26th February, 1997 and this project was inaugurated by the Hon’ble
Chief Minister of West Bengal, Shri Jyoti Basu. Subsequently the remaining "B"
and all "Permitted" group Scrips (approx. 3500) were transfers on to the C-STAR
System with effect from 7th March, 1997. The Exchange finally shifted the
entire "A" group specified securities on to the C-STAR System with effect from 4th
April, 1997. Thus the era of Out-cry system of Trading which was approximately 90 years
old was finally brought to an end. On-Line Trading is expected to prove beneficial to
investors because it will offer interalia complete transparency of all transactions, and
eliminate errors as matching will be done by the central computer.
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