Ashishkumar ChauhanBombay Stock Exchange (BSE) is further raising the trading speed on its electronic platform, Eurex’s T7, to capture the global players, as India becomes more attractive to investors.
“BSE has changed its response time to 6 microseconds on median basis from earlier 200 micro seconds. This makes BSE the fastest exchange in the world. This achievement has recaptured India’s leadership in the technological infrastructure for market places which it lost out to other countries in early 2000,” said its managing director and chief executive officer Ashishkumar Chauhan.
India had become a thought leader in technological infrastructure for market places when in mid-1990s it became one of the first large markets to implement a complete screen-based trading.
Subsequently other exchanges implemented the automated trading and took leadership in the technological infrastructure.
“We are happy that now BSE has taken the leadership once again in the comity of nations and has emerged as a leader in this area again,” said Chauhan.
The speed upgrading has started in phases and will be completed in the next couple of months.
It has been using Eurex’s T7 platform for two years under an agreement with Deutsche Borse (DB) and its subsidiary Eurex, making it India’s fastest electronic-based trading hub.
BSE went electronic in 1995, trading everything on the screen.
Meanwhile, BSE and DB have put a system in place allowing customers in Singapore and Hong Kong to place orders directly on BSE.
“Foreign Portfolio Investors (FPI) in Singapore and Hong Kong customers can use the DB network in the two countries to send their orders to BSE,” he said.
This FPI-specific link follows BSE’s tie-up with DB in marketing its data globally.
DB is an exclusive re-seller for all BSE data to international customers while BSE handles the sale of the same data to domestic customers.
The 140-year old BSE, the oldest borse in the world, is also ready to list Real Estate Investment Trusts (REITs) and Infrastructure Vehicle REITs (Inveits).
Almost all clearances have been given for listing of REITs and Inveits, which would give bigger opportunities to investors to participate in the development of Indian prosperity.
The listings of REITs and Inviets are expected to commence in the coming few months.
India is going through massive national development led by infrastructure and real estate developments, which make Inviets and REITs attractive investment options, industry observers said.
Today, BSE is the largest exchange in the world in term of listings – some 5,200 companies. fii-news.com
