BSE inducts Corporation Bank as clearing bank

Mumbai, Nov 30 (UNI) Corporation Bank today joined the Bombay Stock Exchange Ltd (BSE) as a clearing Bank.

The induction of Corporation Bank will further expand the options for the BSE members. It demonstrates the commitment of the Exchange to offer it's members excellent services and admission of Corporation Bank, as a Clearing Bank is a step in that direction.

During the last two years, BSE has sold over 200 new Memberships and the Exchange has expanded its terminal network to 423 cities across the country.

During the agreement signing ceremony between BSE and Corporation Bank, Mr Rajnikant Patel, Managing Director&CEO of BSE said in his statement,'' We welcome Corporation Bank as clearing bank to the BSE fold. This is a part of our many new initiatives to provide the best of facilities, efficient and professional services to our members and expand the reach through the branch network of Corporation Bank.

BSE will also leverage Corporation Bank's expertise in the financial market to provide innovative products and services for the benefit of brokers, market intermediaries, corporates and others.'' Speaking on the occasion, Mr K L Gopala Krishna, Executive Director Corporation Bank said,''It is a privilege to be associated with a prestigious institution like BSE in the capacity of a clearing member. We have made a good beginning with SHCIL Services as a member and hope to grow to be a very valuable clearing house member of BSE.

UNI AR PM AW1909