View source for Ahmedabad Stock Exchange

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{{Use Indian English|date=August 2018}}
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The '''Ahmedabad Stock Exchange''' ('''ASE''') is the second oldest exchange of [[India]] located in the city of [[Ahmedabad]] in the Western part of the country and is fully owned by [[Government of India]]. It is recognised by Securities Contract (Regulations) Act, 1956 as permanent [[stock exchange]]. Its logo consists of the [[Swastika]] which is one of the most auspicious symbols of [[Hinduism]] depicting wealth and prosperity.

In April 2018, the SEBI permitted the Ahmedabad stock exchange to exit the stock exchange business. Under the agreement, ASE will cease its activities and change its name to remove the phrase "stock exchange" from it.<ref>{{cite news|title=SEBI permits Ahmedabad stock exchange to exit bourse biz|url=https://economictimes.indiatimes.com/markets/stocks/news/sebi-permits-ahmedabad-stock-exchange-to-exit-stock-bourse-biz/articleshow/63584294.cms|access-date=24 April 2018|newspaper=Economic Times|date=24 April 2018}}</ref>

==History==
The stock exchange was established as a Public Charitable Trust in 1894 following the establishment of the [[Bombay Stock Exchange]] in 1875. Earlier the stock exchange functioned under the framework of the Bombay Securities Contracts Act, 1925. Following the passage of The Securities Contract Regulations Act, 1956 the Gujarat Share & Stock Exchange, Indian Share and General Exchange Association and Bombay Share and Stock Exchange, Share and Stock Brokers Association merged with the Ahmedabad Share and Stock Brokers Association and gave rise to ASE as it stands today.

ASE is the oldest stock exchange after [[Bombay Stock Exchange]] in India. ASE functioned in a 93 years old heritage building up to 1996 after which it shifted to a more modern building.<ref name="asett">{{cite news | url=http://articles.timesofindia.indiatimes.com/2012-06-06/ahmedabad/32078139_1_ase-ahmedabad-stock-exchange-heritage-building | archive-url=https://archive.today/20130411035022/http://articles.timesofindia.indiatimes.com/2012-06-06/ahmedabad/32078139_1_ase-ahmedabad-stock-exchange-heritage-building | url-status=dead | archive-date=11 April 2013 | title=Old stock exchange building at Manek Chowk to be sold | work=[[The Times of India]] | date=6 June 2012 | agency=TNN | access-date=21 February 2013 | location=Ahmedabad}}</ref><ref name="build">{{cite news | url=http://www.dnaindia.com/ahmedabad/report_veterans-rue-loss-of-ahmedabad-s-manekchowk-building_1699278 | title=Veterans rue loss of Ahmedabad's Manekchowk building | work=[[Daily News and Analysis]] | date=7 July 2012 | agency=DNA | access-date=21 February 2013 | author=Dhomse, Himansh}}</ref><ref name="dnaa">{{cite news | url=http://www.dnaindia.com/india/report_heritage-lovers-root-for-ahmedabad-stock-exchanges-manekchowk-building_1510511 | title=Heritage lovers root for Ahmedabad Stock Exchange's Manekchowk building | work=[[Daily News and Analysis]] | date=20 February 2011 | agency=DNA | access-date=21 February 2013 | author=Soni, Nikunj}}</ref><ref name="mp">{{cite news|url=http://www.ahmedabadmirror.com/index.aspx?Page=article&sectname=News%20-%20City&sectid=3&contentid=2010020520100205023816328218cbe34 |title=Amdavad's First Pol |work=[[Ahmedabad Mirror]] |date=5 February 2010 |agency=AM |access-date=21 February 2013 |author=Ruturaj Jadav and Mehul Jani |url-status=dead |archive-url=https://web.archive.org/web/20091207235844/http://www.ahmedabadmirror.com/index.aspx?page=article |archive-date=7 December 2009 }}</ref> The stock exchange went live on 12 December 1996. Initially, ASE used a system provided by [[IBM]]. Since June 1999, ASE operates on Ahmedabad Stock Exchanges' Online Trading System (ASETS). This system was provided to ASE by [[Tata Consultancy Services|Tata Consultancy Services Ltd.]] Members of the ASE can also trade on the [[Bombay Stock Exchange]] through a system called IBOSS. Today the stock exchange has 333 trading members.

Market regulator [[Securities and Exchange Board of India]] (SEBI) has issued notice to the ASE for withdrawal of recognition stating that regional stock exchanges whose net worth was less than Rs 100 crore and turnover less than Rs 1,000 crore would be closed.<ref>{{cite news |url=http://www.business-standard.com/article/markets/ahmedabad-stock-exchange-shareholders-to-drag-sebi-to-court-112091200146_1.html |title=Ahmedabad Stock Exchange shareholders to drag Sebi to court |newspaper=Business Standard |date=September 12, 2012|access-date=2017-11-26}}</ref> The old stock exchange building listed as a heritage building was put up for sale.<ref>{{cite news |url=http://www.dnaindia.com/ahmedabad/report-ahmedabad-stock-exchange-will-amdavad-lose-its-living-heritage-to-apathy-1926174 |title=Ahmedabad Stock Exchange: Will Amdavad lose its living heritage to apathy? |newspaper=Daily News and Analysis |date=2013-11-28 |access-date=2017-11-26}}</ref><ref>{{cite news |url=https://timesofindia.indiatimes.com/city/ahmedabad/Old-stock-exchange-building-at-Manek-Chowk-to-be-sold/articleshow/13860329.cms |title=Old stock exchange building at Manek Chowk to be sold |newspaper=Times of India |date=2012-06-06 |access-date=2017-11-26}}</ref><ref>{{cite news |url=http://www.dnaindia.com/ahmedabad/report-is-it-end-of-road-for-ahmedabad-stock-exchange-1696195 |title=Is it end of road for Ahmedabad Stock Exchange? |newspaper=Daily News and Analysis |date=2012-05-31 |access-date=2017-11-26}}</ref><ref>{{cite news|url=https://timesofindia.indiatimes.com/city/ahmedabad/Closing-bell-for-Ahmedabad-bourse/articleshow/35489713.cms |title=Closing bell for Ahmedabad bourse? | newspaper=Times of India | date=23 May 2014 | first=Piyush | last=Mishra | access-date=12 August 2018 }}</ref>

== See also ==
* [[List of South Asian stock exchanges]]
* [[List of stock exchanges in the Commonwealth of Nations]]

==References==
{{Reflist}}

==External links==
{{commonscat}}
* {{Official|http://www.aselindia.co.in/}}

{{Financial services in India}}
{{Stock exchanges in India}}
{{Ahmedabad topics}}

[[Category:Economy of Ahmedabad]]
[[Category:Stock exchanges in India]]
[[Category:Indian companies established in 1894]]


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