The Bombay Stock Exchange today said it is in talks with some regional bourses for a possible partnership, a strategic move to increase its footprint in the country.
"We are looking for alliances with some regional stock exchanges. We are in talks with some of them," BSE Deputy CEO Ashish Chauhan told PTI.
Under the partnership, companies listed on a particular regional exchange will be available for trading on the BSE and members of that local bourse will also be able to trade in shares of companies listed on the BSE, the official said.
"With over 20 stock exchanges in the country, there is scope for alliance," Chauhan said over the phone from Mumbai.
Asia's oldest bourse BSE's search to partner with local exchanges comes in the backdrop when its main rival the National Stock Exchange is also scouting for similar opportunities, said market analysts.
With stiff competition among exchanges at the national level, bigger bourses are now eyeing tie-ups with regional ones to expand footprint as well as to provide scope to small companies to trade on a national platform, experts said.
Entering into an alliance with a national bourse like the BSE, would mean improvement in liquidity in stocks listed on these exchanges, market experts said.
At the same time, the BSE is also looking to expand its global presence. From October 4, the BSE benchmark Sensex would be available for trading on the Frankfurt-based Deutsche Borse.
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