OTCEI managing director J H Bosco said the new initiatives would enable the exchange play a major role in the IPO (initial public offering) market and create fresh opportunities for new companies -- especially in the high growth, knowledge-based industries -- to get attractive valuations.

As part of a drive towards initiating more investor-friendly measures, OTCEI has also planned a complete revamp of the exchange's market-making rules to create greater liquidity for stocks listed on the OTCEI and providemore exit opportunities for the investors at all stages. The new market-making system will be operational by the fourth week of October and will be integrated with the existing OASIS system.

Commenting on the move to form a subsidiary which would seek membership on the NSE, Bosco said that given the national reach and depth of current members of the OTCEI, it would now become a more aggressive player as a stock exchange on a national level.