The Bombay Stock Exchange (BSE) will commission its Disaster Recovery Site (DRS) in Hyderabad in the first quarter of the next financial year, according to Managing Director and Chief Executive Director Ashiskumar Chauhan.
Speaking to reporters on the sidelines of a business orientation programme organised by the Institute of Management Technology (IMT) here, he said that in compliance with SEBI norms, the BSE had to set up a disaster-recover site in a different seismic zone from Mumbai.
“We have a DRS about 50 km from our current location in Mumbai. But the technology centre coming up here (Hyderabad) will function as the far-away disaster recovery site. It will be a replica of the BSE,’’ he said.
Initially, around 40 professionals will support the centre but their number could go up in future, he added.
The exchange will upgrade its software to increase response times in online transactions, from next month. “The response time will increase by 50 times from the existing speed to 200 micro seconds. In the next three to five years, we hope to reduce it further to 25 microseconds,’’ said Chauhan.
The BSE will try to diversify its revenue base beyond equity to derivatives and currency futures, he added.
In the last financial year, the exchange posted consolidated revenue of Rs 570 crore and net profit of Rs 110 crore. “We expect similar revenue this year while profit might go up a little,’’ he added.
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