
CHAPTER 4
The Public Equity Market
In this chapter, we describe the public equity market, i.e., the universe of firms
which are listed.
4.1 PRODUCTS, VENUES, MARKET DESIGN
The Indian equity market involves the following trading venues:
• The National Stock Exchange (NSE)
• The Bombay Stock Exchange (BSE)
• ADRs listed at NYSE and NASDAQ
• GDRs traded in Europe
• A globally dispersed offshore OTC equity derivatives market
4.1.1 NSE AND BSE
The public equity market within India, both spot and derivatives, takes place
almost entirely at the two exchanges—NSE and BSE.
1
The exchanges have an
essentially identical trading system, with the following features:
• There ...