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The Calcutta Stock Exchange Association (CSE) has been admitted as a participant on the depository for clearing and settling trades in the dematerialised segment of the CSE, thus bringing the total number of Depository Participants to 57.

Trading in the dematerialised segment of the CSE commenced for the SEBI specified list of 30 scrips today. The facility of delivering demat shares in the physical segment for these scrips will be available from Friday, June 12, 1998.

As on June 8, 1998, 208 issuers have entered into agreements with NSDL to get their securities dematerialised. Amongst these, dematerialisation facilities are available for shares of 186 corporates. The total number of securities available for trading is 183.

Oil and Natural Gas Corporation Limited (R&T Agent: MCS Limited) has signed the agreement with NSDL to make its shares available for dematerialisation.

Further, mutual fund units of Escort Mutual Fund (R&T Agent: Karvy Consultants Limited) have been made available for dematerialisation.

Wartsila NSD India Limited has made a one - time payment to NSDL that will enable NSDL not to charge custody fees to the DPs for its shares with effect from July 1, 1998. This brings the total number of companies who have opted for this scheme to 33.

The Associated Cement Companies Limited (ACC) had offered special incentives to those share holders who dematerialise their ACC shares during the period 15th April 1998 to 29th May 1998. These incentives included complete waiver of account opening charges, dematerialisation charges and concessional rates for annual custody charges.

During this offer period, ACC received 274 requests for conversion of over 15000 shares to demat form. These were purely requests received under the special offer and did not include requests received from institutions pursuant to SEBI directive. As there was a tremendous response for this offer, ACC has extended it upto 30th June 1998.

As on June 6, 1998, about 196 crore shares having a total value of more than Rs. 30,000 crore have been dematerialised. Dematerialisation, as a percentage of the market capitalisation, crossed 20% for the following companies:

NSDL has organised a series of special exposure seminars for trading members of NSE, BSE and the Calcutta Stock Exchange on the detailed procedures to be followed while dealing in dematerialised securities.

Earlier, in 1997, similar programmes were conducted for the trading members of NSE in the four metros and Pune.