What Is the Calcutta Stock Exchange (CSE)?

What Is the Calcutta Stock Exchange (CSE)?

3 Min.

The Calcutta Stock Exchange (CSE) is a stock exchange situated in Kolkata, India. In 1980, the Indian government permanently recognized the exchange. Since then, the CSE has grown to include over 900 members and more than 3,500 listed companies. Members of the CSE have access to trading opportunities in capital markets and the futures and options markets of both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE).


Situated in the bustling city of Kolkata, India, the Calcutta Stock Exchange (CSE) stands as an enduring testament to the nation's financial prowess. Established as the second oldest stock exchange in South Asia, the CSE has evolved into a prominent hub for trading in capital markets and the dynamic futures and options markets of both the Bombay Stock Exchange (BSE) and the National Stock Exchange of India Limited (NSE).

The Calcutta Stock Exchange (CSE) History

The roots of stock trading in Calcutta extend back to the early 1800s, albeit without formal regulations or a dedicated trading venue. Legend has it that stockbrokers convened beneath a neem tree, now occupied by the Standard Chartered Bank in Calcutta.

The earliest recorded securities dealings in India revolve around the British East India Company's loan securities. In 1908, the Calcutta Stock Exchange Association was established with 150 members. By 1923, it transformed into a limited liability entity. In 1980, the Indian government granted permanent recognition under the Securities Contracts Regulation Act of 1956. The exchange has since flourished, boasting over 900 members and a roster of more than 3,500 listed companies. The current CSE building was erected on Lyons Range in Kolkata in 1928.

In 1997, a significant shift occurred with the implementation of the computerized trading system C-STAR (CSE Screen-Based Trading And Reporting), which, unfortunately, became embroiled in a payment settlement scandal in 2001. This crisis led to the suspension of 300 CSE members. However, many eventually had their licenses reinstated. Subsequently, numerous companies chose to delist from the CSE in favor of the BSE or NSE. In 2007, the CSE established a partnership with the BSE, though most Indian stock market activity gravitates towards these larger exchanges.

In 2012, the Securities and Exchange Board of India (SEBI) imposed stringent regulations on regional stock exchanges (RSEs), prompting nearly 20, including the Bangalore Stock Exchange, Hyderabad Stock Exchange, and Madras Stock Exchange, to voluntarily cease operations. C-STAR trading was temporarily halted in 2013. Despite grappling with formidable regulatory challenges, the CSE perseveres as a demutualized and professionally operated stock exchange, enabling its members to partake in trading on the BSE and NSE exchanges.


The Calcutta Stock Exchange (CSE) has a rich history dating back to the early 1800s when stock trading began under a neem tree. In 1980, it earned permanent recognition from the Indian government. Today, with over 900 members and 3,500 listed companies, CSE offers access to capital and futures markets, including the BSE and NSE. Despite challenges like the C-STAR system controversy 2001 and stricter regulations in 2012, CSE remains committed to providing a professional, demutualized trading platform. Its enduring partnership with BSE and NSE solidifies its position as a vital player in India's financial sector. As the second oldest stock exchange in South Asia, CSE continues to play a crucial role in India's financial history and future.

Calcutta Stock Exchange (CSE)
Bombay Stock Exchange (BSE)
National Stock Exchange of India Limited (NSE)
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