Lehman Brothers offers to surrender trading membership of NSE

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Lehman Brothers offers to surrender trading membership NSE
More than four years after it went bankrupt, the US-based Lehman Brothers has offered to surrender its brokerage membership of the Indian bourse NSE.

Once an iconic financial services major, Lehman went bust in September 2008 and became synonymous with one of the worst financial crisis to ever hit the US and global markets.

In a public notice, the NSE ( National Stock Exchange) said that Lehman Brothers Securities Pvt Ltd has requested for the surrender of its trading membership of the bourse.

The exchange said that any complaints against Lehman Brothers need to be lodged within 15 days after which no complaints would be entertained.

"The constituents of Lehman Brothers Securities Pvt Ltd are hereby advised to lodge immediately complaints, if any, against it within 15 days from the date of this notification and no such complaints filed beyond that period will be entertained by the exchange ...," NSE said today.

Lehman Brothers last traded on September 24, 2008. Financial services firm Lehman Brothers filed for Chapter 11 bankruptcy protection on September 15, 2008. The filing remains the largest bankruptcy filing in the US history, with Lehman holding over $600 billion in assets.

PTI

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