Indian Stock Exchange, BSE Signs Pact with Dubai Mercantile Exchange to Boost up Indian Commodities Market - The Industry Spread

Karthik Subramanian

Karthik Subramanian has been a professional trader and fund manager over the last 18 years. He is basically a software developer who made the transition to financial domain around 18 years back as the attractiveness of the financial markets proved too much for him. He lives in Chennai in India along with his wife and son. He began his career as a software developer in 1999 and then gradually moved into the financial industry as he began trading stocks in his pastime. He then moved into the financial markets full time and then shifted his focus to the FX markets due to the liquid nature of these markets. Since then, he has been trading FX diligently and his favourite pair are the EURUSD and EURJPY. Over the last couple of years, he has found blockchain to be of high interest and considering his background in software and finance, he has since assembled a team of highly talented developers who have since worked on a variety of projects like crypto exchanges and blockchain architecturing. Now, he balances his time between trading and commenting on both the FX and crypto markets. He has worked with many publications including FX Street and Finance Magnates, which has helped him gain experience and also recognition across the industry. He loves to write and this passion has helped him to reach out across the FX and crypto industry. Right now, he works on his pet projects in the FX and crypto industry and spends his time writing and managing his blockchain team and helping it to reach higher.

Bombay Stock Exchange BSE

Indian Stock Exchange, BSE Signs Pact with Dubai Mercantile Exchange to Boost up Indian Commodities Market

October 13, 2018

Dubai Mercantile Exchange DME

India’s leading and Asia’s oldest stock exchange, Bombay Stock Exchange (BSE) and Dubai Mercantile Exchange (DME) has inked a memorandum of understanding (MOU) to work together to help India’s commodity market to maximize its potential. 

The announcement of the partnership comes at a time when BSE has recently launched its commodities trading platform on October 1st. DME is one of the premier commodities exchange in the world and international energy futures exchange in the Middle East. The partnership agreement includes supporting the development of the platform to create resourceful commodities derivative market in India. It will also allow Indian corporate to hedge their exposure using BSE’s commodity derivatives segment.

Shri Ashishkumar Chauhan, MD & CEO, BSE, commented on the partnership: 

Shri Ashishkumar Chauhan, MD & CEO, BSE
Shri Ashishkumar Chauhan, MD & CEO, BSE

“We believe that it is important to build mutually beneficial relationships in the journey of shared goals. With the fundamental objective of evolving commodity derivatives market, we are pleased to associate with DME in this endeavor that will immensely help all stakeholders.”Further added: “at BSE, we have always focused on identifying and creating new business opportunities that will contribute to the development of the nation.”

DME is launched in June 2007 and its flagship contract Oman Crude Oil Futures Contract is the sole benchmark for Oman and Dubai crude oil. Speaking on the MoU, Raid Al-Salami, Head of DME, added:

“As the world’s fastest-growing major economy, India offers seamless opportunities across industries, particularly in the energy sector. With its growing needs for energy imports, the country has become a key focus market for global industry players, and our collaboration with BSE will enable us to tap into the country’s thriving energy market.”

“We will leverage our expertise in facilitating energy futures and commodities trading to enable BSE to further promote its new trading platform for commodities derivatives and better serve the needs and interests of the domestic derivatives market.”

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