The Bombay Stock Exchange today said it has signed a licensing agreement with the US-based International Securities Exchange (ISE) to launch derivative products in India. The agreement is part of the ongoing market development efforts between BSE and Deutsche Borse Group,which includes Eurex and ISE,the BSE said in a statement. ISE is a wholly-owned subsidiary of global derivatives exchange Eurex. Under the agreement,the BSE will seek approval from the market regulator Sebi to launch derivative products for the Indian investors based on innovative ISE indices,as part of BSE's Futures and Options product basket. "We are glad to have signed this agreement with the International Securities Exchange which is part of our long-term strategic initiative to offer world class investment products to investors in India," BSE Managing Director and Chief Executive Officer Madhu Kannan said. The BSE has a broad shareholder base that includes two leading global exchanges,Deutsche Bourse and Singapore Exchange as strategic partners,while ISE operates a leading US options exchange and offers options trading on over 2,000 underlying equities,ETF,index,and FX products. "ISE's indexes provide investors with equity-based exposure to highly topical investment themes,including emerging markets,widely-traded commodities and water," ISE Head of New Product Development Kris Monaco said.
