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Global exchange operator Deutsche Boerse and Eurex has said that India is a high priority in its Asian business development strategy and it is expanding alliances and education programmes with institutions there.
“India is an important part in our Asia roadmap, given that Asia is a priority for DB Group when it comes to business development,” Uwe Schweickert, Director and head of Executive Office at Eurex, told PTI.
The Group has worked out several programmes including the distribution of its market data products in India and Indian market data products on the global markets, Schweickert said at the recent FIA Asia Derivatives conference here.
He said Eurex was working to further develop Indian market through its strategic partnership with Bombay Stock Exchange (BSE) which had recently installed the Frankfurt-based bourse’s latest technology for trading, T-7.
The T-7 based platform has upgraded BSE’s trading system to global standards and was part of technology and knowhow sharing alliance with Eurex. It went live on November 28.
Schweickert said it would remain a major technology breakthrough for the BSE and strengthen relationships with the Frankfurt group. Deutsche Boerse holds 5 per cent stake in BSE.
“I believe this gives BSE a technology edge in the Indian market. It is a cost efficient set up for BSE,” Schweickert said, adding: “Our objective is to support BSE to build up a derivatives market of international standard. This is what we want to promote as an international derivatives exchange.”
The group is also set to sign a deal with S P Jain Institute to train students in trading and participating in all aspects of the global markets. Eurex and the institute are scheduled to set up a simulation trading laboratory in Mumbai.
“We will provide free real time data and also support the financing for the lab,” said Roland Schwinn, Executive Director and head of business development for Asia & the Middle East in Eurex’s Singapore office.
The cooperation will expand the DB group’s ongoing plans, which include Eurex seminars and training sessions held across major Indian cities to build a base of efficient traders.
“We want to make sure that the students know about the international markets and local markets at the very young age,” said Markus Georgi, Senior Vice President in Eurex’s Hong Kong office. He is responsible for the Indian market as head of business development in Asia and the Middle East.
In October, Deutsche Boerse Market Data + Services and BSE formed a partnership under which Deutsche Boerse acts as the exclusive licensor of BSE market data and information products to all international clients.
The cooperation is expected to benefit customers by giving them access to both exchanges’ market data products under a single license agreement.
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