The seven-decade old Madras Stock Exchange has planned to relaunch its operations in January through online trading platform after a gap of over seven years, a top official said on Wednesday.

Considered one of the oldest bourses in the country, the MSE closed trading in 2004-05.

"We plan to launch online trading platform in January 2013, coinciding with Pongal (harvest festival)," Madras Stock Exchange Advisory Committee Member V Nagappan told reporters in Chennai.

He said they are waiting for approval from the Securities and Exchange Board of India (SEBI) in this regard.

Nagappan further said that as per the revised guidelines from Sebi, the regional stock exchanges need to increase their networth by Rs 100 crore in three years and report a turnover of Rs 1,000 crore in two years.

To meet this guidelines, he said they are in talks with some regional Stock Exchanges for possible mergers.

"MSE is in the process of setting up its own trading platform. MSE has already procured the software and hardware for this purpose. Being a well compliant Exchange, MSE is confident of getting the approval from Sebi and commence trading operations," a release circulated to the media said.

Madras Stock Exchange Member, Advisory Committee, S Venkateswaran said they have entered into a strategic arrangement with the National Stock Exchange for it members to trade in the NSE platform.

"Already 60 companies have been included for trading on MSE platform...", he said.

Currently, MSE has 1,200 companies listed with it and in the last two years alone over 50 companies exclusively got listed, he said.

He said as part of the exchange's platinum jubilee celebrations, a conference would be held on September 29, to be inaugurated by Tamil Nadu Governor K Rosaiah.