OTC Exchange of India

OTC Exchange Of India also known as Over-the-Country Exchange of India or OTCEI was set up to access high-technology enterprising promoters in raising finance for new product development in a cost effective manner and to provide transparent and efficient trading system to the investors.

History:
OTC Exchange Of India was founded in1990 under the Companies Act 1956 and got recognized by the Securities Contracts Regulation Act, 1956 as a stock exchange. It has a pattern along the lines of the NASDAQ market and has introduced several innovations to the Indian capital markets like:

1. screen-based nationwide trading
2. sponsorship of companies
3. market making
4. scrip less trading

Among important listed companies under the OTC Exchange Of India are VIP, Advanta, Sonora Tiles & Brilliant mineral water, etc.

OTC Exchange Of India Brokers:
There are three types of intermediaries-

1. Members
2. Dealers
3. Sponsors

Services of OTC Exchange of India:
OTC Exchange Of India introduced certain new concepts in the Indian trading system:

1. screen based nationwide trading known as OTCEI Automated Securities Integrated System or OASIS
2. Market Making
3. Sponsorship of companies
4. Trading done in share certificates
5. Weekly Settlement Cycle
6. Short Selling
7. Demat trading through National Securities Depository Limited for convenient paperless trading
8. Tie-up with National Securities Clearing Corporation Ltd for Clearing.

OTC Exchange Of India Trading in Securities:
OTC Exchange Of India designed trading in debt instruments commonly known as PSU bonds and also in the equity shares of unlisted companies.

Promoters of the OTC Exchange of India:
Some of the leading financial institutions of India that co-promote the Over-the-Country Exchange of India are like:
Unit Trust of India
ICICI
Industrial Development Bank of India
SBI Capital Markets Limited
Industrial Finance Corporation of India
Life Insurance Corporation of India
Canbank Financial Services Limited
General Insurance Corporation of India & its subsidiaries

OTC Exchange Of India Grievance Cells:
OTC Exchange Of India introduced the opening of the Investor Grievance Cells at the four Metro cities in India for readdressing the complaints from the investors against the brokers and their listed companies.

Contact Details:

Head Office: 92/93,Maker Towers,'F' Wing,
Cuffe Parade,
Mumbai - 400 005.

Phone: +(91)-(22)-22188164, 22188165
Fax: +(91)-(22)-22188012, 22188503
E-mail: admin@otcei.net
Website: www.otcei.net