The history of the stock market in India goes back to the end of the eighteenth century when long-term negotiable securities were first issued. In 1850 the Companies Act was introduced for the first time bringing with it the feature of limited liability and generating investor interest in corporate securities. The first stock exchange in India was set-up in 1875 as The Native Share and Stock Brokers Association in Bombay. Today it is known as the Bombay Stock Exchange (BSE). This was followed by the development of exchanges in Ahmedabad (1894), Calcutta(1908) and Madras(1937). It is interesting to note that stock exchanges were first set up in major centers of trade and commerce. Until the early 1990s, the Indian secondary market comprised regional stock exchanges with BSE heading the list. After the reforms of 1991, the Indian secondary market acquired a three tier form. This consists of: • Regional Stock Exchanges • National Stock Exchange (NSE) • Over the Counter Exchange of India (OTCEI)

Which of the following objectives were fulfilled by the National stock exchange, which was incorporated in 1992 and recognized as a stock exchange in April 1993?

• Establishing a worldwide trading facility for all types of securities.
• A proper communication network to ensure equal access to the investor all over the country. 
• It met the international benchmark and standards and enabled longer settlement cycles to provide convenience to the traders.
• In order to provide fair and transparent trading, electronic trading system that was screen based was introduced.

2 and 4

Following objectives were fulfilled by the National Stock Exchange:

• Establishing a nationwide trading facility for all types of securities.
• Ensuring equal access to investors all over the country through an appropriate communication network.
• Providing a fair, efficient and transparent securities market using electronic trading system.
• Enabling shorter settlement cycles and book entry settlements.
• Meeting international benchmarks and standards.