Media Release
BSE signs MoU with IHS Markit for developing new bond valuation service in India
Mumbai December 17, 2019: BSE, India’s premier exchange and the world’s fastest Stock Exchange has signed a Memorandum of Understanding (MoU) with IHS Markit, a global information services provider, to facilitate the joint development of a new service to provide Valuation of Fixed Income Securities in India. The MoU was signed on December 17, 2019 and the service is aimed to start in H1 of 2020.
The valuation service will be offered to on-shore and off-shore clients and will leverage BSE’s domestic expertise and IHS Markit’s extensive capabilities in developing fixed income data services for international markets.
Speaking on the occasion Shri Ashishkumar Chauhan, MD & CEO, BSE, said “We are delighted to associate ourselves with IHS Markit. This collaboration with IHS Markit will provide investors access to premier Fixed Income pricing and valuation services based on well renowned IHS Markit methodologies customized with BSE to suit Indian market. This engagement would benefit in Indian and international bond investors investing in Indian fixed income market.”
“We see significant opportunity to enhance fixed income valuation in India’s growing bond market,” said Shri Sage Patel, Head of Pricing, Valuations and Reference Data, APAC IHS Markit. “Joining forces with BSE brings the expertise and network needed to be successful in creating a high-quality pricing service and create more transparency in the domestic fixed income markets to benefit issuers, investors and banks.”
About BSE
BSE (formerly Bombay Stock Exchange) established in 1875, is Asia’s first & now the world’s fastest Stock Exchange with a speed of 6 microseconds. BSE is India’s leading exchange group and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, commodity derivatives, interest rate derivatives, mutual funds and stock lending and borrowing.
BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful. BSE also has a dedicated MF distribution platform BSE StAR MF which is India Largest Mutual Funds Distribution Infrastructure. On October 1, 2018, BSE launched commodity derivatives trading in Gold, Silver, Copper, Oman Crude Oil Guar Gum, Guar Seeds & Turmeric.
BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE’s systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments.
Indian Clearing Corporation Limited, a wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on the BSE trading platform and provides full novation, guaranteeing the settlement of all bonafide trades executed. BSE Institute Ltd, another fully owned subsidiary of BSE runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), associate company of BSE, is one of the two Depositories in India.
BSE has set up an Investor Protection Fund (IPF) on July 10, 1986 to meet the claims of investors against defaulter Members, in accordance with the Guidelines issued by the Ministry of Finance, Government of India. BSE Investor Protection Fund is responsible for creating Capital markets related awareness among the investor community in India.
About IHS Markit (www.ihsmarkit.com)
IHS Markit (NYSE: INFO) is a world leader in critical information, analytics and solutions for the major industries and markets that drive economies worldwide. The company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights that lead to well-informed, confident decisions. IHS Markit has more than 50,000 business and government customers, including 80 percent of the Fortune Global 500 and the world’s leading financial institutions. Headquartered in London, IHS Markit is committed to sustainable, profitable growth.
Media Contact for BSE
Yatin Padia / Rahul Vyas
022 2272 8516 / 2272 8472
Yatin.padia@bseindia.com; Rahul.vyas@indiainx.com
Media Contact for IHS Markit
Patricia Poon
+852 3742 1000
patricia.poon@ihsmarkit.com