The alliance is expected to create a co-operative relationship to explore developmental areas to work together
Bombay Stock Exchange (BSE) today signed a memorandum of understanding (MoU) with the Osaka Securities Exchange Company (OSE) to create a cooperative relationship for the development of financial markets in India and Japan. As part of the agreement, both exchanges will seek to develop opportunities which include cross-licensing of indices and other potential areas of co-operation.
"We believe the signing of the MoU with BSE, which is India's largest stock exchange and has the well-known benchmark index Sensex, will be a significant step towards mutual cooperation of two exchanges," said Michio Yoneda, president and CEO of Osaka Securities Exchange. "In a globalized financial market, investment activities have also become increasingly globalized. We hope this MoU will lead to further development of financial markets both in India and Japan and create new benefits for investors in Asia and all over the world."
OSE is the Japan's largest derivatives exchange and operates "Jasdaq," the largest growth market in Japan. In 2010, total trading volume of all derivative contracts hit the record high of 196,350,000 units. Especially, Nikkei225 mini, a small-sized stock index futures contract, has achieved significant growth, whose trading volume reached 125,110,000 units, increasing by 19.5% from the previous year.
Signing the alliance, Madhu Kannan, MD & CEO of BSE said, "The signing of the MoU with Osaka Securities Exchange will help create a platform to facilitate wider investor access to world-class investment products from both exchanges, a move which will be mutually beneficial to the exchanges and investors alike."
The strategic partnership will assist Way2Wealth in synergizing their capabilities, wide product offering and Techno’s presence in serving the Indian markets better
Way2Wealth, the wealth management and financial services arm of Coffee Day Co, has signed definitive agreement with Techno Shares & Stocks Ltd (Techno), a midsize securities broking firm with predominantly western India presence. This strategic partnership will assist Way2Wealth in synergizing their capabilities, wide product offering and Techno's presence in serving the Indian markets better.
Equirus Capital acted as the exclusive financial advisor to Way2Wealth for the transaction
"Techno's team has long standing experience in the securities industry and this partnership will deepen our reach, strengthen our presence in the western region and help us building a robust and diversified securities brokerage business," said MR Shashibhushan, CEO, Way2Wealth
"Our association with Way2Wealth will provide a stronger platform to Techno clientele with a wider product portfolio, larger brand and institutional parentage. The stronger platform will benefit all our stakeholders including our clients, partners (franchisees, sub-brokers) and our employees," Jaydeep Mehta, CEO, Techno said.
Glenmark Pharmaceuticals has signed licensing deal with Immanence-IDC to distribute the latter’s anti-aging cosmeceutical range of products in eight countries
Glenmark Pharmaceuticals has signed an exclusive licensing deal with Canada-based Immanence-IDC to distribute the latter's anti-aging cosmeceutical range of products in eight countries.
The company's 10-year licensing agreement with Immanence-IDC will span eight countries, including India, Brazil, Mexico, South Africa, Egypt, Vietnam, Malaysia and Thailand.
"This association marks a new beginning for us in one of the fastest growing segments in dermatology," the Glenmark Pharmaceuticals COO, Arvind Vasudeva, said in a statement.
He said the association would enable the firm to consolidate its leadership position in dermatology across these markets.
"This 10-year agreement with Glenmark will open new markets for us and through a network of more than 1.5 lakh dermatologists, it will allow us to reach more than 1.5 billion people," the Immanence-IDC board chairman, Eric Dupont, said.
Commenting on the tie-up, the Immanence-IDC president and CEO, Luc Dupont, said with the agreement with Glenmark, the company's products would be available in over 12 countries. "Our goal is to establish a presence in over 25 countries over the next two years," he added.
On Thursday, Glenmark Pharma ended 0.36% up at Rs304.10 on the Bombay Stock Exchange, while the benchmark Sensex declined 0.11% to 19,591.18.