BSE EUREX TECHNOLOGY TIEUP

BSE today said it has entered into a technology alliance with Germany's Eurex Group, a move that will allow India's top stock exchange to achieve global standards for speed and order-handling capacity. BSE aims to replace derivatives market platform in 2013 and subsequently also replace its cash market platform. This agreement is an important step in further developing the strategic partnership between BSE and Eurex, which operates Deutsche Börse, an exchange statement said here. The partnership in the technology sphere will allow BSE to quickly achieve the highest global standards for speed, reliability and order-handling capacity, it said. It will bring to BSE state-of-the art levels of capacity and latency, already in place at the International Securities Exchange (ISE) since 2011 and in roll-out at Eurex Exchange. By aligning BSE, Eurex Exchange and ISE markets on a common trading infrastructure, IT costs for shared customers will be significantly reduced, the release said. "We expect our technology alliance with Eurex will help BSE to compete more effectively in India, attract more international participants into our marketplace and improve our market share in derivatives and equity trading," BSE MD and CEO Ashish Chauhan said. "It will quickly put BSE into the premier league of exchanges in terms of the performance of our matching engine and overall technology infrastructure," he said. "This alliance strengthens our long-term partnership with BSE and is another milestone in our Asian strategic roadmap, in which India obviously plays an important role. "This technology alliance also contributes to growing our global liquidity network, based on common market infrastructure, for the benefit of both our partners and our members," Eurex CEO Andreas Preuss said.