BSE Exceeds 1 Billion Derivatives Contracts on its New Deutsche Börse T7 Powered Trading Platform

More than 1 billion contracts have been traded on BSE's new trading technology BOLT Plus which is based on the Deutsche Brse's T7 trading architecture.

The success underlines BSE's leading edge in terms of speed, transparency and reliability. BSE (formerly Bombay Stock Exchange) and Deutsche Brse today announced that the cumulative volume of BSE's derivatives markets surpassed the level of 1 billion traded contracts since launch of the new trading platform BOLT Plus.

The new partnership in the technology sphere has allowed BSE to quickly achieve the highest global standards for speed, reliability and order-handling capacity. It has brought to BSE state-of-the art levels of capacity and latency, already in place at the International Securities Exchange (ISE) and at Eurex Exchange. By aligning BSE, Eurex Exchange and ISE markets on a common trading infrastructure, IT costs for shared customers has been significantly reduced.

BSE launched its Currency Derivatives Segment on the new platform on November 29, 2013. BSE migrated its Equity Derivatives Segment to the new platform of BOLT Plus on February 8, 2014, and the much anticipated Equity Segment on April 7, 2014.

With its near 200 microseconds latency and a through put capacity of 500,000 orders per second, the new platform is faster than any other exchange in India by at least 10 times; the through put capacity is also higher by similar numbers. This is the largest ever technology transformation in India ever attempted in the exchange space, where more than 900 broker members with more than 100,000 branches have experienced the new BOLT Plus trading system of BSE. By extension, millions of users have been able to experience the new trading system and its improved efficiency in orders being executed.

Since inception of BOLT Plus, average daily volume and subsequently the market share of BSE have significantly improved. In the first four months of 2015, the combined average daily volume in equity derivatives and currency derivatives exceeded 3.28 million contracts.

With 84.59 mil contracts traded in the first four months of 2015, BSE ranks 1^st in the world in terms of number of contracts traded in currency options, as per the latest WFE rankings.

Currently, BSE has 1392 members, while many more domestic and international participants are preparing to connect with BSE. Since April 2015, (potential) participants of BSE can use Deutsche Brse's resilient and low latency N7 network services to connect to BSE's back-end in India via the respective Deutsche Brse Access Points (data centers) in the two major financial centers Hong Kong and Singapore.

Speaking on this occasion Ashishkumar Chauhan, MD & CEO BSE said "Our strategic partnership with Deutsche Brse, including the successful integration of their T7 technology into our BOLT Plus platform has given a new trading experience to BSE members with sub-200 microsecond latency and high throughput - the results of which have started to show. We expect to continue to leverage our partnership to the mutual benefit of the oldest Stock Exchange in Asia and the largest exchange group in Europe."

"We are very pleased with this development and continue to support the overall expansion and further improvement of BSE's offering," added Tom Bendixen, Senior Vice President, Eurex, and Director of BSE.