India’s BSE aims to challenge international finance hubs with new bourse

By Euan Rocha and Abhirup Roy GANDHINAGAR, Jan 9 (Reuters) – Indian stock market operator BSE aims to win market share from financial hubs such as Singapore and Hong Kong by investing in technology and offering almost 24-hour trading at its new exchange in Gujarat, Chief Executive Ashishkumar Chauhan said. The International Exchange will trade a range of financial instruments, including equities, commodities and currency, in Gujarat International Finance Tec-City (GIFT), which has been created to spearhead India’s push to attract more foreign investment. Speaking on the sidelines of the exchange’s inauguration on Monday, Chauhan said the new bourse would offer a response time of four microseconds, describing it as “one of the fastest, if not the fastest, exchanges in the world”.

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