Eurex Group and BSE enter technology alliance

BSE aims to replace its derivatives market platform in the course of 2013, plans to subsequently replace also its cash market platform

Eurex Group and the Bombay Stock Exchange (BSE) today announced strategic partnership through a long-term technology alliance under which BSE will join the Eurex technology roadmap and deploy Deutsche Börse Group’s trading architecture in a first step.

BSE aims to replace its derivatives market platform in the course of 2013 and plans to subsequently replace also its cash market platform.

By aligning BSE, Eurex Exchange and International Securities Exchange (ISE) on a common trading infrastructure, IT costs for shared customers will be significantly reduced.

This will also reduce technology development and installation efforts for Eurex and ISE members who wish to connect to BSE and vice versa as well as strengthen the case for cross-listing.

“We expect our technology alliance with Eurex will help BSE to compete more effectively in India, to help us attract more international participants into our marketplace and improve our market share in derivatives and equity trading,” said Ashish Chauhan, MD and CEO of BSE. “It will quickly put BSE into the Premier League of exchanges in terms of the performance of our matching engine and overall technology infrastructure.”