BSE inks pact with Japanese exchange

Mumbai: The Bombay Stock Exchange (BSE) on Thursday joined hands with Osaka Securities Exchange (OSE) to create a co-operative relationship for the development of financial markets in India and Japan.

They signed a memorandum of understanding (MOU), under which both exchanges will seek to develop opportunities, including cross-licensing of indices and other potential areas of co-operation, a release said here.

OSE is Japan`s largest derivatives exchange and operates `JASDAQ`, the largest growth market in Japan.

"We believe the signing of the MOU with BSE, which is India`s largest stock exchange and has the well-known benchmark index Sensex, will be a significant step towards mutual co-operation of two exchanges," OSE President and Chief Executive Officer Michio Yoneda said.

"In a globalised financial market, investment activities have also become increasingly globalised. We hope this MOU will lead to further development of financial markets both in India and Japan and create new benefits for investors in Asia and all over the world," Yoneda said.

BSE Managing Director & CEO Madhu Kannan said the MOU with Osaka Securities Exchange will help create a platform to facilitate wider investor access to world-class investment products from both exchanges, a move which will be mutually beneficial to the exchanges and investors alike.