The Bhubaneswar Stock Exchange (BHSE) is in advanced talks to merge with The Calcutta Stock Exchange Association Ltd. (CSE). “The board has taken the in-principal decision for a consolidation or merger. So far, CSE is the only possibility we have exploited, as it is an eastern region-based exchange and meets the SEBI criteria,” said Debraj Biswal, Chief Executive Officer, BHSE. “We are in advanced stages of discussions with Bhubaneswar Stock Exchange for consolidation. We are also in talks with other regional stock exchanges, those at Ludhiana and Pune,” said B Madhav Reddy, Managing Director and Chief Executive Officer, CSE.