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from BUSINESS LINE, August 08, 2009 Mumbai, Aug. 7 - The BSE announced on Friday that it has picked up a 15 per cent stake in United Stock Exchange (USE), a recent entrant into the currency derivatives space.
USE will operate as a group company of BSE.
USE is the new stock exchange for trading in financial derivatives. The exchange is a public-private partnership with equity investments by 16 PSUs and the private sector institutions. Although it has received the requisite approvals, it has still not started operations.
HDFC Bank, Bank of Baroda, Jaypee Capital, MMTC, TCS and Union Bank of India are among the stakeholders in United Stock Exchange, which was …