Market is place were buyer an seller meet, buyer buys goods and pay money to seller similarly financial market is place were financial products like stock , bonds etc are exchange,like in any market place play an important role, in Financial market there are exchanges who play a part of place, there are 23 exchanges in India in which National Stock Exchange and Bombay Stock Exchanges are most famous.
below is the financial market hierarchy. it is very important to know before purchasing any financial product were it belong in hierarchy.
below is the history of the equity market of India
- 1875 : Birth of BSE ( Open Outcry System )
- 1960 : SBTS (Screen Based Trading System)
- 1985 : Electronic trade system come into place through BOLT ( BSE online trading system)
- 1988 : We get our first index SENSEX ( Sensitivity index)
- 1991 : Most imp year of our country LPG
- 1992 : Biggest Scam of the country, Harshad Metha Scam which give birth to SEBI
- 1995 : till 91 there were 22 stock regional stock exchange NSE was introduce to integrate all the regional stock exchange. NSE introduce its own trading mechanism NEAT, NSE started automated trading.
- 1999 : Financial Technology come into picture with its most famous software ODIN Financial Technology give two exchanges to India MCX for commodity and MCX-SX for equity derivative and currency
- 2000 : NSE introduce most dynamic product of Financial market," DERIVATIVE".
