The shareholders of Bombay Stock Exchange (BSE) and United Stock Exchange (USE) have approved the amalgamation of the two at a court convened meeting on October 20,2014.

BSE said in a statement that both the BSE and USE will file petitions before the Bombay High Court seeking sanction (from the court) for the proposed scheme.

The Securities and Exchange Board of India and the Competition Commission of India (CCI) had approved the scheme on August 21, 2014 and July 30, 2014 respectively.

USE had received its licence from SEBI on March 26, 2010. It is one of the four recognised stock exchanges operating in currency derivatives segment representing the commitment of 26 public and private sector banks.

Trading in four currency pairs - USD-INR, EUR-INR, GBP-INR and JPY-INR - is done on the USE.

comment COMMENT NOW