60. SECONDARY MARKET. DEMUTUALISATION OF SE’s . Most of the Exchanges in the country are organised as “mutuals” which was considered beneficial in terms of tax benefits and matters of compliance. The trading members, who provide broking services, also own, control and manage exchanges. This is not an effective model for self regulatory organisations as the regulator and regulated are the same. Demutualisation segregates ownership, management and trading activity from one another. NSE and OTCEI are demutualised exchanges.
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Notes de l'éditeur
The Stock Exchanges also issues rules of the game. The Stock Exchanges also issues rules of the game.