Following the establishment of the Bombay Stock Exchange in 1875, the stock exchange was established as a Public Charitable Trust in 1894. Previously, the stock exchange was governed by the Bombay Securities Contracts Act of 1925. Following the passage of The Securities Contract Regulations Act, 1956, the Gujarat Share and Stock Exchange, Indian Share and General Exchange Association, and Bombay Share and Stock Exchange, Share and Stock Brokers Association merged with the Ahmedabad Share and Stock Brokers Association to form ASE. After the Bombay Stock Exchange, ASE is India's second-oldest stock exchange. ASE was housed in a 93-year-old heritage building until 1996, when it relocated to a more modern structure. [2] [3][4][5] On December 12, 1996, the stock exchange went live. ASE began by utilising an IBM-supplied system. Since June 1999, ASE has been trading on the Ahmedabad Stock Exchange's Online Trading System (ASETS). Tata Consultancy Services Ltd provided this system to ASE. Members of the ASE can also trade on the Bombay Stock Exchange using the IBOSS system. The stock exchange now has 333 trading members. The Securities and Exchange Board of India (SEBI) has issued a notice to the ASE for withdrawal of recognition, stating that regional stock exchanges with less than Rs 100 crore in net worth and less than Rs 1,000 crore in turnover will be closed. The old stock exchange building, designated as a heritage structure, has been listed for sale.