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
Yukiya Amano, Director General of the International Atomic Energy Agency (IAEA), said Monday that nuclear programs of the Democratic People's Republic of Korea (DPRK) and Iran remain matters of serious concern. The head of the United Nations nuclear watchdog made the remarks at the opening of the... Stocks largely turned in a lackluster performance during trading on Monday, as traders looked ahead to the Federal Reserve's monetary policy announcement later this week. Technology stocks saw significant weakness, however, resulting in a sharp drop by the tech-heavy Nasdaq. While most Americans support President Barack Obama's decision to take action against the terrorist group ISIS, the results of a new NBC News/Wall Street Journal/Annenberg poll found that the vast majority lack confidence that the U.S. will achieve its goals.
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.