Bse Likely To Receive Fie Membership

The Bombay Stock Exchange (BSE) is likely to be conferred with the membership of the Federation of International de Bourses de Valu-ers Federation of International Exchanges (FIE). A formal decision is expected to be taken in October this year during the annual general meeting of the international body.

The BSE, by virtue of this membership, is set to join the ranks of the Hong Kong and the Taiwan stock exchanges in South Asia. Gerrit H de Marex Oyens, secretary-general of the FIE, who was recently in Mumbai, had indicated that it is very likely that the exchange would be conferred with the membership in the 37th annual general meeting of the federation to be held in New York in October.

BSE president M G Damani, said: "I was working towards this goal and am delighted at this development." He said that the exchange would complete all the formalities for receiving the membership in the meantime.

Owens, a source said, had also met the Sebi chairman D R Mehta to discuss the developments witnessed by the exchange in the last one-and-a-half years.