[5] The Madras Stock Exchange Association (Private) Limited had been registered under the Indian Companies Act of 1913.
After the coming into force of the Securities Contracts (Regulation) Act, 1956, which enactment was passed to prevent undesirable transactions in securities by regulating the business of dealing therein, by prohibiting auctions and for providing for certain other matters, the Company - Madras Stock Exchange Limited was incorporated on the 29th day of April, 1957.
[9] After surrendering its license, MSE was rechristened Madras Enterprises Ltd and continues to trade as a sub broker to BSE and NSE.
A member of the Bombay Stock Exchange, MSE Financial Services did help to create greater broker and investor flexibility through multi-market access.
The combined entity became the single largest regional exchange in the country with over 1,000 local companies listed exclusively on it.