Premier bourse BSE has roped in S&P Dow Jones Indices to use the 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 index Sensex will now be managed and operated by the new joint venture to be known as S&P BSE Sensex and effective Tuesday, 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.
“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. “We have entered into a long-term strategic partnership with S&P Dow Jones Indices and will share revenues on 50:50 basis,” Mr. Chauhan said.
Established in 1875, 137 years ago, BSE Ltd. (formerly Bombay Stock Exchange Ltd.) is Asia’s first stock exchange.
As of December 31, 2011, more than $1.5 trillion was directly indexed to S&P Dow Jones Indices’ family of stock market indices. “This partnership expands BSE and S&P Dow Jones Indices’ presence in India and in South Asia, while providing a springboard for our efforts in the ASEAN region with an important exchange partner that understands this critical segment of the market,” S&P Dow Jones Indices Chief Executive Officer Alexander Matturri said.
