BSE inks deal with ISE to launch derivative products

BSE will seek approval from the Securities and Exchange Board of India to launch derivative products for Indian investors based on innovative ISE indices, as part of BSE's Futures and Options product basket

Mumbai: The Bombay Stock Exchange (BSE) on Tuesday said it has signed a licensing agreement with the US-based International Securities Exchange (ISE) to launch derivative products in India, reports PTI.

The agreement is part of the ongoing market development efforts between BSE and the Deutsche Borse Group, which includes Eurex and ISE, the BSE said in a statement.

ISE is a wholly-owned subsidiary of global derivatives exchange Eurex. Under the agreement, the BSE will seek approval from the Securities and Exchange Board of India (SEBI) to launch derivative products for Indian investors based on innovative ISE indices, as part of BSE's Futures and Options product basket.

"We are glad to have signed this agreement with the International Securities Exchange which is part of our long-term strategic initiative to offer world class investment products to investors in India," BSE managing director and chief executive officer Madhu Kannan said.

The BSE has a broad shareholder base that includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners, while ISE operates a leading US options exchange and offers options trading on over 2,000 underlying equities, exchange traded funds (ETFs), index, and foreign exchange (FX) products.

"ISE's indexes provide investors with equity-based exposure to highly topical investment themes, including emerging markets, widely-traded commodities and water," ISE head of New Product Development Kris Monaco said.

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CBI questions Kalmadi in Commonwealth Games scam

Members of the CWG Organising Committee have been made accused in four cases related to alleged irregularities in awarding contracts of QBR, overlays and time keeping but so far Mr Kalmadi has not been named accused in the eight FIRs filed by the agency

New Delhi: Suspended Commonwealth Games Organising Committee chairman Suresh Kalmadi was today questioned by the Central Bureau of Investigation (CBI) for the second time in connection with alleged scams related to the conduct of the sporting extravaganza, reports PTI.

Mr Kalmadi was earlier questioned by the CBI at his residence here in January when teams of agency officials searched his residential and official premises in Delhi, Mumbai and Pune. His bank lockers were also searched at that time.

Three of his close aides including former OC secretary general Lalit Bhanot, former OC director general V K Verma and his personal assistant Shekhar Deorukhkar are already behind bars in connection with alleged irregularities during the Games.

The CBI has so far registered eight cases of which three are related to restoration work of two sporting venues, two are related to Queen's Baton relay (QBR), while one each is related to overlays, contract given to Swiss Time Keeping, and contract given to SIS live for the coverage of the Games.

Members of the Organising Committee have been made accused in four cases related to alleged irregularities in awarding contracts of QBR, overlays and time keeping but so far Mr Kalmadi has not been named accused in the eight FIRs filed by the agency.

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'Your online timer' survey scam spreading rapidly on Twitter, warns Sophos

Once the application, 'Your online timer' is approved, users are taken to a website which claims it will find out the time spent to date on Twitter—and the page pops up a survey which earns the scammers money for each questionnaire completed

IT security & data protection firm, Sophos, has warned Twitter users to be cautious, following the discovery of new rogue applications designed to help scammers earn money by spreading links that point to online surveys.

Following attacks this weekend, which saw users spreading messages about a girl who killed herself and how addicted they were to Twitter, new messages are appearing on Twitter on Tuesday claiming to count how long users have been members of the social networking website, Sophos said in a release.

"Viral scams like these are commonly encountered on Facebook, but are now being spread by their creators onto Twitter too. It's possible that the people behind these attacks view Twitter users as a softer target, which might generate them more income," said Graham Cluley, senior technology consultant at Sophos.

According to Sophos, these offending tweets contain a variation on the following text, with the amount of time shown differing between users:

"I have spent 379 days, 9096 hours on Twitter. How much have you? Find out here: [LINK]"

The messages, posted by an application called "Your Online Timer", include a link, which-if clicked on by other Twitter users-will encourage them to authorise "Your Online Timer" to access and update their Twitter accounts. If the application is approved, users will be taken to a website, which claims it will find out the time spent to date on Twitter-and the page pops up a survey which earns the scammers money for each questionnaire completed. In addition, without explicit approval, the Twitter account of the victim is updated with a status update-spreading the link virally to other Twitter users.

"Social networks have a responsibility to protect their users from scams and spam-but ultimately it's down to the user to think very carefully before handing over the keys to their social network account to a complete unknown application," said Mr Cluley.

Affected users should revoke the application's access to their Twitter account immediately. This can be done by entering 'Settings-Connections' and revoking the rights to the relevant application.

"If the application's access to your account is not revoked, the scammers could use it to spread other messages-potentially including links to malicious websites, phishing or other spam campaigns. The last thing you want is for your Twitter followers to believe that you are being sloppy over your account's security, and potentially putting them at risk too," added Mr Cluley, who was voted as 'security blogger of the year' in 2009 and 2010 by readers of Computer Weekly.  

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