Standard Chartered Bank buys 3% in India's United Stock Exchange

13 years ago - March 22, 2011

Standard Chartered became the first foreign bank to invest in the USE

USE currently operates in the currency derivatives space and offers currency futures in all the four currency pairs permitted by Sebi. t is one of the only two stock exchanges in India to offer currency options on the USD-INR currency pair, a press release issued here stated.

Financial details of the transaction were not disclosed.

The Exchange is a unique public-private partnership with equity investments by both PSUs and the private sector. The Bombay Stock Exchange is also a strategic partner with the USE as it holds a 15 per cent stake and all its members are connected to the new USE platform, it added.

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