Bombay Stock Exchange (BSE) has signed a memorandum of understanding (MoU) with the Bank of New York Mellon in New York to provide collateral management solutions.
According to the MoU, both the firms will work together allowing foreign investors to give top-rated bonds traded outside of India as collateral for trades done on the BSE.
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The pact is expected to make it easier for foreign investors to operate in India and reduce their costs of collateral and trading in Indian markets significantly over a period of time.
The agreement aims to improve the trading experience for foreign institutional and retail investors and bring Indian practices in line with the best in the world.
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