‘Commodities foray is the natural way forward for expansion plans’
MUMBAI: BSE Ltd on Monday approved a share buyback of ₹166 crore, within a year of its listing on February 3, 2017. In an interview, S Ravi, chairman, BSE said the exchange would focus on diversifying its business this year by foraying into commodity derivatives. On Monday, BSE also announced that it will start mock trading in commodity derivatives towards the monthend. Edited excerpts: been an issue at corporate. With enhanced governance, we will believe that business will follow. Further, we are following a two-pronged approach – our investments should yield results and expansion in related fields. We are looking at diversification with commodities being the focus. Sebi has allowed exchanges to launch commodity exchanges starting October 2018, so we are preparing ourselves for the launch. We are also exploring business associations that will maximise the profits for BSE.
Commodities foray is the natural way forward for expansion plans, we are also considering a foray in Infor- mation Utility (IU). Each year, we are considering adding some more facets to our business; last year, it was INX; before that SME, and this year, it will be commodities. The turnover has reached as high as ₹2,100 crore as on Friday; it was exceedingly good. Considering it is a new exchange, it has challenges on all fronts including human resources, regulatory clearances and having systems in place, which is natural. Having said that, we are happy with the progress and will strive for more.