The Hindu Business Line : BSE bids board seats to foreign bourses

The Bombay Stock Exchange (BSE) has offered Deutsche Borse and Singapore Stock Exchange positions of director on the BSE board, said a senior BSE official.

“We have offered them positions as board members,” said the BSE Chairman, Mr Jagdish Capoor, while speaking to media persons on the sidelines of a book launch function at the exchange.

With regards to delay in new derivative products to be offered in tie-ups with foreign exchanges, BSE’s technical committee is working on it, as regulator SEBI wanted technology being made available by foreign parties to suit domestic market conditions.

“BSE’s technical committee met today (on Friday) to sort out the issues related to technological support to be provided by its foreign partners, Deutsche Borse and Singapore Stock Exchange. Indian stock market regulator Sebi wanted some changes to suit the domestic requirements,” Mr Capoor said. BSE technical committee may have to meet again before the matter is finalised. With regards to the Sebi approval for BSE to launch currency futures trading, Mr Capoor said that there were a few things to complete, “otherwise BSE’s preparedness was almost complete and we are waiting for Sebi to do an assessment.”

Meanwhile, BSE’s plans to launch a commodity exchange seem to have been postponed with the exchange calling off its tie-up with NMCE. “We might look at launching commodity exchange in future. But for the time being, the relations with NMCE are over,” said Mr Capoor.

Dalal Street Investment Journal launched a book on Indian Stock Market in English and Hindi titled Stock Market Book to educate common investors about the various dynamics of the equity market.

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