| Click here to view glimpse of the event - BOISL launches an e- interface in its NSDL DP to increase speed and security of transactions
- BOISL website launched / Launching of the BOISL website
Mumbai, April 16, 2008: Bombay Stock Exchange, Asia’s oldest bourse, today signed an agreement with its clearing house - Bank of India Shareholding Ltd (BOISL). The agreement aims to offer the Securities Lending and Borrowing Scheme (SLBS), with effect from April 21, 2008. The new scheme will facilitate short selling of securities by retail and institutional investors.
On this occasion, Mr. Rajnikant Patel, Managing Director & CEO of BSE launched BOISL’s Internet based Speed - e operations in its National Securities Depository Limited (NSDL), DP.
Inaugurating the electronic interface Mr. Rajnikant Patel, Managing Director & CEO, BSE said, “This marks a watershed in the history of the BSE. The e- interface would provide investors the best in terms of speed and security of executing transactions. The electronic interface would reduce manual operations substantially and hence minimise the risk of human error otherwise known as operational risk. In addition value added features pertaining to DP activities would also be provided.”
On this occasion Mr. T S Narayanasami, Chairman and Managing Director, Bank of India also launched the website of BOISL
Said, Mr. T S Narayanasami, CMD, Bank of India, “The website would give an insight into the services provided by BOISL. All exchange members can avail our entire gamut of services such as cash management, electronic fund transfer (EFT) et al.”
About Bombay Stock Exchange (BSE):
Established in 1875, BSE is the oldest Stock Exchange in Asia. Earlier an Association of Persons (AoP), the exchange is now a corporatised and demutualised entity. BSE reaches to around 450 cities and towns in India and has more than 4,800 listed companies on the boards, with over 7,500 scrips being traded. The companies listed on BSE command a total market capitalization of more than USD 1.7 trillion. The Exchange offers trading in the equity (cash and derivatives) and debt (corporate and government securities) segments.
For further information please visit: www.bseindia.com
About BOISL
BOI Shareholding Ltd (BOISL), also known as BSE Clearing House was established in 1989. A 51:49 JV between Bank of India and the BSE, it provides clearing and settlement services to clearing members of the exchange. The company also serves as a DP to NSDL and CDSL. Other facilities provided by the company include custodial services, franking and sale of judicial and non judicial documents.
The company plans to facilitate clearing and settlement of corporate debt instruments and also implement T+1 settlement cycle.
Kalyan S. Bose,
Head - Corporate Affairs | | April 16, 2008 |
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