BSO connects global investors to ‘India’s Hong Kong’
Privately owned carrier BSO has become the first global provider to offer direct connectivity to an Indian financial centre, allowing foreign investors to access the market.
BSO is connecting India INX International Financial Services Centre (IFSC), at Gujarat International Finance Tec-City, which is India’s project to create a Hong Kong-like trading centre with a similar relationship to the rest of India as Hong Kong has to China.
The exchange was created three years ago by BSE, formerly the Bombay Stock Exchange, which is Asia’s oldest stock exchange.
Michael Ourabah, CEO of BSO, said: “BSO has a well-established footprint and business in India and has been working to support India INX’s development since its inception in January 2017.”
The IFSC, in Gandhinagar, Gujarat, is aiming to attract the international financial community by providing domestic and offshore traders equal access to the wider global markets.
Ourabah said: “Being at the heart of connecting the global trading community to emerging and high-growth regions such as India is core to BSO’s service-led approach. We recognise that each emerging market we serve has unique needs and we have responded by developing a multi-faceted team that can ease the IT challenges and pain points in the diverse Indian market.”
Participants will benefit from a more level playing field and state-of-the-art connectivity into the country, said the carrier.
“We have expanded our service into India INX to enable international investors and non-resident Indians to trade India INX from across the globe as well as provide the India INX exchange members with co-location and international connectivity solutions.”
India INX’s CEO, V Balasubramaniam, said that BSO is “a partner who is filling the need here in India for a global network provider with the local knowledge and capability to provide both the lowest latencies and an extremely high level of service for our clients”.
India INX will offer, via BSO’s network, a range of ultra-low latency Layer 2 and Layer 3 client solutions, including co-located market data, order entry and order execution for members hosted at IFSC, as well as access to international markets across the globe.
BSO will provide point-to-point circuits for clients to connect to all major exchange locations inside and outside of India as well as separate last mile circuits into IFSC.
Indian prime minister Narendra Modi inaugurated India INX in January 2017.