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`Regional SEs must adopt to changes'

Our Bureau

MANGALORE, Sept. 2

AT a time when members of the regional exchanges are at the cross-roads due to reduced volumes in the cash markets across the country, it is imperative that they quickly learn the ``tricks'' of trading in the derivatives market, according to the former P resident of the Bombay Stock Exchange, Mr Bhagirat B. Merchant.

Delivering the keynote address at a seminar on derivatives organised here by the Mangalore Stock Exchange (MgSE) in association with Refco-Sify Securities India (P) Ltd, Mr Merchant highlighted the increasing use of futures and options worldwide.

He also stressed the need for their use in the country given the regulatory changes recently made by the Securities and Exchange Board of India (SEBI) in the banning of deferral products and the introduction of compulsory rolling settlements which have l ed to a drastic reduction in volumes in the cash markets across the country.

The seminar was attended by representatives from industry, banks, academicians, investors and stock brokers apart from service sector professionals.

The sessions of the seminar included talks on index options and stock options, stock index arbitrage strategies and hedging applications, basic directional options, trading strategies and basic stock option strategies.