Osaka Securities Exchange (OSE), Japan's largest derivatives venue, and India's Bombay Stock Exchange (BSE) have signed a memorandum of understanding (MOU) to develop opportunities including cross-licensing of indices and other potential areas of cooperation.
“We believe the signing of the MOU with BSE, which is the Indian largest stock exchange and has the well-known benchmark index SENSEX, will be a significant step towards mutual cooperation of two exchanges,” said Michio Yoneda, president and CEO of OSE. “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.”
Madhu Kannan, managing director and CEO of the Bombay Stock Exchange, said, “The signing of 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.”
The BSE signed a deal with the International Securities Exchange (ISE) on 16 March 2010 to launch new derivative products in India based on ISE indices.
On 2 March OSE's rival Tokyo Stock Exchange signed a letter of intent with NYSE Euronext, the transatlantic exchange operator, to provide members with access to each other’s markets through a network connection.