Bombay

67th National Garment Fair 2018 in Mumbai

The Clothing Manufacturers Association of India (CMAI) organized “India’s Largest Apparel Trade Show – The 67th National Garment Fair” from 16th July to 19th July 2018 at Bombay Exhibition Centre, Mumbai. A Memorandum of Understanding between Govt of Gujarat & CMAI was signed to promote Gujarat as a destination for investments. The Fair was inaugurated by Kishore Biyani, CEO of Future Group.

WR renames Elphinstone station as Prabhadevi

Western Railway renamed Elphinstone Road Station to Prabhadevi on Mumbai’s suburban section. The station, named after Lord Elphinstone, the Governor of Bombay from 1853 to 1860, is renamed after the local deity ‘Prabhadevi’. Elphinstone is the station where 23 people were killed and over 39 injured in a stampede at the railway station’s foot over bridge on September 29, 2017.

Tie-up to develop commodity derivatives market

Bombay Stock Exchange has entered into an agreement with Bombay Metal Exchange for growth & systematic development of commodity derivatives markets in non-ferrous metals complex. Through this MoU, BSE & BME will work jointly on initiatives to deepen the understanding of commodity market among stakeholders. BME will assist BSE in designing innovative deliverable products in commodities.

BSE to launch commodity derivatives trading

Bombay Stock Exchange has decided to launch trading in the commodity derivatives segment from October 1. BSE will begin commodity derivatives with non-agriculture commodities like metals, energy and base metals. A derivative is a contract between two parties which derives its value/price from an underlying asset. The most common types of derivatives are futures, options, forwards and swaps.

Repo in corporate debt securities

Bombay stock exchange has received approval from RBI and Sebi to launch repo in corporate debt securities. Corporate bond repo is where a firm or a bank pledges corporate bonds with another company or lender to garner funds. The corporate repo debt will be launched in 2 models – Basket repo with settlement guarantee and Special repo without settlement guarantee.

Arbitrage rate index launched by BSE

Asia Index, a joint venture between S&P Dow Jones Indices and Bombay Stock Exchange (BSE), has launched arbitrage rate index.It will provide market participants with a transparent benchmark to compare the performance of similar arbitrage strategies. The index will be rebalanced every month, effective after the close of business a day prior to the expiration of the futures contract.

BSE Appoints S Ravi as its New Chairman

Eminent chartered accountant Sethurathnam Ravi has been appointed as the chairman of the leading Bombay Stock Exchange (BSE). Ravi, who was a public interest director at the BSE, replaced Dhirendra Swarup. The appointment has been approved by Market regulator SEBI.

BSE appoints Swarup as new Chairman

Bombay Stock Exchange has appointed Dhirendra Swarup as its new Chairman. Swarup, who was functioning in the capacity of a Public Interest Director with BSE replaces incumbent Sudhakar Rao. He is former Chairman of PFRDA & has 40 years of experience across finance, budgeting & public debt management. He has also served as Chairman of Cash & Debt Management Committee of RBI from 2000 to 2003

BSE’s INDIAINx Ties Up With DGCX

INDIAINx has signed an agreement with Dubai Gold and Commodity Exchange (DGCX) to reach out to the global traders in a wide range of products including the trading in INR-USD contract. India International Exchange being set up by the Bombay Stock Exchange (BSE). INDIAINx will offer derivative exchange in rupee-dollar contracts, products on gold, silver, copper and crude oil.