Eurex Group and the Bombay Stock Exchange (BSE) announced a strategic partnership through a long-term technology alliance, under which BSE will join the Eurex technology road-map and deploy Deutsche Börse Group's trading architecture in a first step.
BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform.
By aligning BSE, Eurex Exchange and International Securities Exchange (ISE) markets on a common trading infrastructure, IT costs for shared customers will be significantly reduced.
This will also reduce technology development and installation efforts for Eurex and ISE members who wish to connect to BSE and vice versa as well as strengthen the case for cross-listing.
BSE MD & CEO Ashish Chauhan said, "We expect our technology alliance with Eurex will help BSE to compete more effectively in India, to help us attract more international participants into our marketplace and improve our market share in derivatives and equity trading. It will quickly put BSE into the Premier League of exchanges in terms of the performance of our matching engine and overall technology infrastructure."
Andreas Preuss, CEO of Eurex and Deputy CEO of Deutsche Börse AG commented, "This technology alliance strengthens our long-term partnership with BSE, and is another milestone in our Asian strategic road-map, in which India obviously plays an important role, adding that this technology alliance also contributes to growing our global liquidity network, based on common market infrastructure, for the benefit of both our partners and our members."
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