Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Eurex Group, BSE Announces Technology Alliance Pact

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."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
A ban on athletes using stamina-boosting gases - xenon and argon - came into effect on Monday. The World Anti-Doping Agency (WADA) said Hypoxia-Inducible Factor (HIF) activators Xenon and Argon have been added to the 2014 List of Prohibited Substances and Methods List following the required three-month notice period and UNESCO's communication to all States Parties. A recommendation to revise the British manufacturing growth eased further in August to its lowest level in 14 months as output and demand increased at slower rates, survey results from Markit Economics showed Monday. The Markit/CIPS Purchasing Managers' Index dropped to 52.5 from a revised 54.8 in July. Economists had expected the score to fall to 55.1 from July's original figure of 55.4. Consumers spent less in July than in the previous month, a surprise retreat that complicates the prevailing belief that the U.S. economic situation is improving. Along with the unexpected drop in spending, government figures released on Friday showed that incomes rose at a slower pace in July than in the previous month. Meanwhile, data on prices indicated that inflation pressures remain tame.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.