BSE inks pact with Bank of New York Mellon

Leading Indian stock exchange BSE today announced here signing of a memorandum of understanding with Bank of New York Mellon to provide collateral management solution enabling foreign investors to give top-rated sovereign securities as collaterals.
The MoU was signed on the day of arrival of Prime Minister Narendra Modi on a five-day visit to the US to enhance bilateral ties including on economic issues.
The pact is expected to enhance the ease of investments in Indian market by foreign institutional investors, BSE CEO Ashishkumar Chauhan told PTI.
With the solution, foreign investors would be able to provide top-rated 'AAA' sovereign securities as collaterals.

He is also attending a number of Indo-US business meetings in the backdrop of Modi's first visit to the US after becoming Prime Minister in May this year.
BSE is the world's largest stock exchange in terms of number of listed companies and figures among biggest bourses globally on various other parameters too.
Leading American bank BNY Mellor also held an India Investor Roundtable here today, which was addressed by Finance Ministry Joint Secretary Manoj Joshi, former Sebi member and Committee on Depository Receipts Chairman M S Sahoo, as also by top BNY Mellon executives and BSE CEO, among others.