BSE adds S&P's Dow Jones Indices to Sensex, days after rating agency exits NSE
Premier bourse BSE has roped in S&P Dow Jones Indices to use the Standard and Poor's (S&P) brand for Sensex and other indices such as BSE 200 and BSE 100, a week after expiry of the global financial major's pact with rival exchange NSE.
BSE benchmark Sensex will now be managed and operated by the new JV to be known as S&P BSE Sensex and effective today, all the BSE indices, including BSE 100 and BSE 200, will be co-branded "S&P".
Besides, these indices would join S&P Dow Jones Indices' other iconic financial market indicators such as the S&P 500, the Dow Jones Industrial Average, the S&P/TSX 60, and the S&P/ASX 200.
"Over the years, BSE was lagging behind making Sensex tradable. We expect our partnership with S&P Dow Jones Indices will help BSE raise the global acceptance of the Sensex and other index benchmarks, and help BSE achieve a leadership position in the index derivatives space," BSE MD and CEO Ashish Chauhan told reporters here today.
"We have entered into a long-term strategic partnership with S&P Dow Jones Indices and will share revenues on 50:50 basis," Chauhan said.
Established in 1875, 137 years ago, BSE Ltd. (formerly known as Bombay Stock Exchange Ltd.) is Asia's first Stock Exchange.
The partnership would allow S&P Dow Jones Indices to implement its South Asia growth strategy and also permit S&P Dow Jones Indices to have a fourth major operational hub by which to support clients globally after operations in Hong Kong, London and New York.
As of December 31,
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