Aug 8, 2009

BSE India To Take 15% Stake in United Stock Exchange

Bombay Stock Exchange (BSE) is set to acquire 15% stake in United Stock Exchange. USE mainly deals in Currency & Interest rate Derivatives.

USE plans to launch new products in coming time to increase market participation to manage interest rates. It plans to provide advance trading platform for the products it launches in coming years.

Many Public Sector bank link PNB, Bank of Baroda and Union Bank of India have picked up stake in USE. USE was set up with paid-up capital of 1.5 billion rupees.

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