"The Madras Stock Exchange (MSE) was an Indian stock exchange that operated in Chennai. The now-defunct MSE was the fourth stock exchange established in India and the first in South India. [1] It had a revenue of 3,090 crore ($440 million) in 2001, but it was a fraction (below 3.5%) of the Bombay Stock Exchange and National Stock Exchange of India. As of the 2012 fiscal year, the turnover of the stock market was 19,907 Crore. In 1920, the Madras Stock Exchange was established in George Town on Second Line Beach. Chandulal Motilal Kothari, the driving force behind the establishment of the exchange, became its inaugural president. He founded a plantation and industrial conglomerate, and later became the first Indian to represent plantation interests in the Madras Legislature. In 1951, D. C. Kothari, his son, became the first Indian Chairman of the United Planters' Association of Southern India. In 1996, the MSE was fully computerised, and online trading became operational, as the MSE was linked to 120 brokerage offices in and around Chennai via wide area networking. On May 14, 2015, SEBI allowed the Madras stock exchange to close."