BSE-Singapore Exchange in talks for exploring biz avenues

Mumbai, Jan 19 (PTI) The Bombay Stock Exchange (BSE)today said it is in talks with the Singapore Exchange (SGX) onvarious business areas and exploring opportunities that aremutually beneficial.

The top Indian bourse also described as "inaccurateand without basis" media reports that it was planning to takelegal action against SGX over launch of products.

"The investment agreement entered into by the SGX andBSE in 2007 clearly contemplates the launch of Nifty-relatedproducts, including Nifty options, by SGX," BSE said in astatement here.

Media reports earlier said the BSE is set to sue SGXfor launching Nifty options with BSE''s rival, the NationalStock Exchange of India (NSE), allegedly breaching the termsof an agreement through which SGX acquired a 5 per cent stakein BSE in 2007.

SGX has a strong and long-standing relationship withAsia''s oldest stock exchange, the release said. Options basedon the S&P CNX Nifty are set for a debut on SGX in February.

n December, SGX circulated a consultation paper on its websiteseeking public feedback for launching Nifty options.

SGX is among the world''s largest exchanges and Asia''ssecond largest listed exchange. Its services range fromlistings, trading, high-speed market access, clearing andsettlement to depository services.

With the region''s longest trading hours, and poweredby cutting-edge technology, SGX is the most preferred conduitfor investment flows into and out of Asia, the release said.