Deutsche Boerse to set IT infra for BSE International Exchange

Deutsche Boerse had partnered with the exchange earlier to act as exclusive licensor of BSE market data

Leading stock exchange BSE has roped in markets operator Deutsche Boerse to set up trading infrastructure for BSE International Exchange at Gujarat International Finance Tec-City (GIFT) city.

BSE and Deutsche Boerse have finalised an agreement under which the global exchange operator would set up trading technology for the BSE's International Exchange, sources told PTI.

BSE has declined to comment on the matter.

Earlier, BSE had acquired trading technology BOLT Plus for its equity platform from Deutsche Boerse.

BOLT Plus is the fastest trading platform in the country.

Deutsche Boerse, which holds nearly 4.75 per cent stake in BSE, had also partnered with the exchange earlier to act as the exclusive licensor of BSE market data and information products to all international clients.

BSE had signed a pact with GIFT SEZ Ltd in January last year to set up BSE International Exchange and BSE International Clearing Corporation at the GIFT city -- the country's first International Financial Services Centre(IFSC).

While the stock exchange has received approval from the Corporate Affairs Ministry to establish international exchange and clearing corporation at GIFT, it is waiting for approval from market regulator Sebi.

The international exchange is expected to provide an electronic trading platform that facilitates domestic companies to raise capital in foreign currency by issuing foreign currency denominated bonds and to trade in such securities.

It would also help Indian startups to raise equity from foreign investors by getting listed and provide companies incorporated outside India a platform to raise money in foreign currencies by the issuance and listing of their equity shares on the international exchange.

BSE has also decided to begin mock trading sessions for its international stock exchange in Gujarat International Finance Tec-City (GIFT) from October 3.