BSE Picks Up 15% in United Stock Exchange

The Bombay Stock Exchange (BSE) has shown that it has purchased 15% participation in the United Exchange (USE), a new entrant in the space of currency derivatives.

The sources said the company, which has a paid up capital of Rs 150 crore, will now work as a group company of BSE. BSE investment will be Rs 22.5 million rupees, 15% of the paid-up capital.
The source added that HDFC, Bank of Baroda, Federal Bank, Union Bank of India, Allahabad Bank and Bank of India are the current shareholders of use.