INTRODUCTION TO

BSE – JUNE 2022

INDIA’S FIRST UNIVERSAL
EXCHANGE
@BSEIndia
@BSEIndia
@BSEIndia
bdm@bseindia.com

BSE - PUBLIC
 INDEX
Section Contents Page

1 About BSE 3

2 Listing Business 14

3 Market Business 20

4 Data Business 35

5 Technology Initiatives
37

BSE - PUBLIC
BSE - PUBLIC
 BSE VALUE PROPOSITION
Key elements BSE Advantage
• Trusted brand name with a presence of 147+ years
Brand name • India’s first Universal Exchange and World’s largest exchange
in terms of companies listed
Investor focus
• Network of over 1,300 brokers / members
Broker / and positioning
• 2.5 lakh Authorized Persons
member Customer /
• 110 million+ Investor accounts Innovative
network Broker
• 70,000+ Mutual Fund Distributors Product Profile
segmentation
• In-house technology company for faster go – to – market BSE
Technology • World’s fastest Exchange with a trading speed of 6
Best Risk Mgmt, Cost-Efficient
microseconds Governance & Pricing
Compliance
Clearing & • Secure, capital-efficient counterparty risk management and Diverse
settlement post-trade services provided by ICCL (AAA rated) Participant
Profile
• Robust trading, clearing, risk management, & settlement
Risk and mechanism
surveillance • First Exchange in India and second in the world to obtain ISO
9001:2000 certification
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BSE - PUBLIC
 EVOLUTION OF THE EXCHANGE

1875-2011 2012-2015 2016-2017

• BSE Small & Medium Enterprises (“BSE SME”)

Platform launched • Trading of Sovereign Gold Bonds commenced
• BSE started as The Native Share & Stock
Broker's Association • Currency Derivatives launched • “BSE–BOND”- Electronic Book Mechanism
launched
• BSE corporatized • Interest Rate Derivative Platform launched
• India International Exchange (IFSC) Ltd. launched
• Mutual Fund Platform (“StAR MF”) • New Debt segment launched by Hon’ble Prime Minister of India, Shri Narendra
launched Modi
• BSE becomes the fastest exchange in the world -
median response speed of 6 micro-seconds • BSE’s becomes the first listed exchange in India

Over last few years, BSE has transformed itself from a conventional stock exchange to the 1st Universal Exchange in addition to setting up
e-commerce initiatives successfully
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BSE - PUBLIC
EVOLUTION OF THE EXCHANGE

2018-2019 2020-2021 2021-2022

• Commodity Derivatives segment launched • Beta-launch of services by BSE Ebix Insurance • Setup a wholly owned subsidiary company
Broking Services on February 07, 2020 “BSE Administration & Supervision Ltd.”
• JV set up with Ebix Inc. to undertake insurance (BASL) for carrying out the administration
broking business • Launch of Commodity Options in GoldM and and supervision activities of all SEBI-
SilverKG registered investment advisors (RIA) on June
• JV with Power Trading Corporation and ICICI 01, 2021
Bank to set up a power exchange • Launch of electronic spot platform for agricultural
commodities - “BSE E-Agricultural Markets Ltd. • Launched trading in delivery-based futures
• BSE launches StAR MF mobile application for (BEAM)” on December 11, 2020 contract in BSE SUFI Steel Billets
IFA’s – “IFA StAR MF Mobility”
• Launch of StAR MF Plus, a premium platform for
distributors and advisors on January 18, 2021
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BSE - PUBLIC
 BSE GROUP

100 100 100 100 100 51.22 61.93 100 59.93 20

BSE India Central

Indian BSE India
Administratio BSE BFSI Sector BSE CSR International Depository
BSE Institute Clearing Technologies International
n& Investments Skill Council Integrated Clearing Services
Limited Corporation Private Exchange
Supervision Limited of India Foundation Corporation (India)
Limited Limited Limited
Limited Limited Limited*

100 100 100

40 India INX Global
BSE Institute of BSE Tech Infra BSE EBIX Insurance
Research Development Services Private Broking Private Access IFSC 10
Limited India
& Innovation Limited Limited
International
22.62 Bullion
Hindustan Power 10
51 40 India Holding IFSC
BIL – Ryerson BSE EBIX Exchange Limited International Limited^
Technology Startup Insuretech Bullion Holding
Incubator Foundation Private Limited 4.76 IFSC Limited^
Open Network for
Digital Commerce

60 Joint Venture
BSE E-Agricultural
Markets Limited 50

^India International Bullion Exchange IFSC Limited is a wholly owned subsidiary of India International Bullion Holding IFSC Limited
*CDSL Ventures Ltd, CDSL Insurance Repository Ltd., CDSL Commodity Repository Limited & CDSL IFSC Limited are Group companies of CDSL Asia Index Pvt Ltd

BSE - PUBLIC
 BSE SHAREHOLDING PATTERN

Shareholding Pattern BSE EBIX Insurance Broking Private Ltd

INSURANCE DISTRIBUTION
7.75% TOP 10 SHAREHOLDERS (As on March 31, 2022)
1.13%
0.29% Life Insurance Corporation of India 5.60 %
Zerodha Broking 3.71 %
Siddharth Balachandran 2.98 %
MSPL Limited 1.33 %
S Gopalkrishnan 1.18 %
53.68% 37.15%
Jupiter India Fund 0.95 %
Vanguard Emerging Markets Stock Index Fund 0.90 %
Akshay Vasantlal Mehta 0.89 %
Integrated Core Strategies Asia PTE Ltd 0.89 %
Vanguard Total International Stock Index Fund 0.87 %

Banks FDI / FII / FPI Mutual Funds Others Trading Members

As on March 31, 2022

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BSE - PUBLIC
BOARD OF DIRECTORS
Name Bio Name Bio
❖ One of the founders of India's NSE where he
Shri S. S. Mundra Shri Ashishkumar Chauhan worked from 1992 to 2000. Best known as the
❖ Former Deputy Governor, Reserve Bank of India Managing Director & CEO
Chairman and father of modern financial derivatives in India
Public Interest Director ❖ Former Chairman & Managing Director of Bank
On BSE Board since 2012 ❖ Previously, Group Chief Information Officer,
of Baroda
On BSE Board since 2018 Reliance Industries Limited
❖ Chancellor of Allahabad University
❖ Former General Secretary of IOSCO (2012-2016),
Shri David Wright former Deputy Director-General for Securities and
Public Interest Director Shri Umakant Jayaram
Financial Markets at the EU Commission. ❖ 28 years Cross functional experience in Global
Public Interest Director
On BSE Board since 2018 ❖ From March 2000 – October 2010 he was first Investment Banking, Finance Planning &
Director, then Deputy Director-General for On BSE Board since 2019 Analysis, Risk Consulting / Business
securities and financial markets transformation

❖ Managing Director of Life Insurance Corporation

Shri T. C. Suseel Kumar of India since March 2019
❖ Former Managing Director, Shree Mahila Sewa
Sushri Jayshree Vyas Shareholder Director
Sahakari Bank, Ahmedabad ❖ Played a key role in redefining the business
Public Interest Director
❖ In the year 2001, financial literacy programme was On BSE Board since 2020 proposition of the Corporation that earned the
On BSE Board since 2019 introduced in Sewa Bank, first of its kind in India – LIC ‘Best Life Insurer Award’ by many leading
at initiative of Ms. Jayshree Vyas agencies during the year 19-20

❖ Retired Chief Justice of the Punjab & Haryana High Prof. Subhasis Chaudhuri ❖ Director of IIT Bombay and K.N. Bajaj Chair
Justice Shiavax Jal Vazifdar Public Interest Director Professor, Department of Electrical Engineering.
❖ Practiced as advocate in the Bombay High Court.
Public Interest Director
❖ Appointed Additional Judge of High Court in 2001. On BSE Board since 2022 ❖ He has 110 journal publications and over 240
On BSE Board since 2022 conference presentations, has authored 7
monographs and 13 National/International
Patents.

BSE - PUBLIC
MANAGEMENT TEAM
Name Bio Name Bio
◼ Technocrat from IIT Bombay and PGDM from IIM Kolkata ◼ Experience of over 29 years, earlier worked at Credit
◼ One of the founders of India's NSE where he worked from Analysis & Research Ltd. as Joint General Manager
Shri Ashishkumar Shri Nayan Mehta
Chauhan 1992 to 2000. Best known as the father of modern (Accounts), as CFO at Multi Commodity Exchange of
Chief Financial
Managing Director & financial derivatives in India due to his work at NSE India Limited.
Officer
CEO ◼ Previously, Group CIO, Reliance Group ◼ Worked at the National Stock Exchange (“NSE”)
◼ Considered amongst the foremost experts in fields of With BSE since 2012
With BSE since 2009 ◼ RepresentsBSE on the Boards of group and associate
fintech, market microstructure, transaction processing, companies of BSE
corporate governance, finance, regulatory policies,
business, technology, cricket, and Indian social issues

◼ Prior to BSE he was an Executive Director in Morgan

◼ Prior to joining BSE, employed with Log-in Utility and
Shri Kersi Tavadia Stanley India for 10 years.
InvestSmart Financial Services Limited
Chief Information
◼ Earlier at National Stock Exchange where he managed
Officer ◼ 31 years experience in areas of Application Systems/ IT Shri Neeraj
Infrastructure development and management, managing Kulshrestha functions like Trading Operations, Inspection,
With BSE since 2010 Chief Regulatory Investigation, Futures & Options Clearing and Trading,
all aspects of IT operations in Financial Services, Capital
Officer CEO of India Index Services and Dotex International
markets and manufacturing companies.
◼ 28 years’ experience in Capital markets, which includes
◼ Playeda leading role in transforming BSE into the fastest With BSE since 2015
exchange in the country Securities Markets and General Insurance

◼ Worked with ICICI Bank Group for 10 years in various

Shri Sameer Patil ◼ Instrumental
in setting up and responsible for Business areas like ICICIDirect.com, Treasury Mid Office,
Chief Business Officer Shri Girish Joshi
Development of INDIA INX at GIFT CITY IFSC Regulatory Reporting and Monitoring at CFO office
Chief Trading
◼ 22years of experience in financial sectors like Commodities, Operations and ◼ One of the earliest core team members involved in the
With BSE since 2015
Currency Derivatives, Indices etc and has experience in Listing Sales set-up of National Stock Exchange (“NSE”), and in 7
Trading, Hedging Strategies, Product Designing and Business years at NSE he worked in Wholesale Debt Market and
With BSE since 2010
Development post trade functions

BSE - PUBLIC
LINES OF BUSINESS

• Equity
• Debt • Mutual Funds
• Equity Derivatives • Book-building services for
• Currency Derivatives IPO
• Commodity Derivatives • Offer to Buy
• SME • Offer for Sell
• Interest Rate Futures Trading & Distribution • New Bond platform
• SME Startups Clearing • Insurance
• E-Agricultural Spot Market

• Services to Others
Equity Listing • Data feed
• Listing of Debt Securities Corporates • Index Services
• Mutual Fund Listing • Software Services
• Listing of Commercial Papers • Training Services

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KEY PLATFORMS AND TECHNOLOGY PROWESS

NTA : Trading system for BSE and Ability to process 500,000 orders/second,
International Exchange with response time of 6 microseconds

CLASS : Clearing and Settlement State-of-the-Art Cyber Security

Platform Operations Centre

BSE StAR MF: Fintech based MF

platform No Technical glitch since launch

BSE Ebix: Fintech based Insurance Big Data Analytics, AI and Machine Learning
platform technology for Online Surveillance

BSE has obtain ISO 27001:2013 for Information Security Management and
ISO 22301:2012 for Business Continuity Management System
BSE - PUBLIC
12
BSE - PUBLIC
FUNDS MOBILIZED USING BSE PLATFORM (EQUITY AND DEBT)
FY 2022-23* FY 2021-22 FY 2020-21
Particulars
(Rs. in crores) (Rs. in crores) (Rs. in crores)

Debt 25,968 3,98,379 5,55,533

Equity 52,024 1,73,023 2,18,421

InvIT’s - 9,484 25,215

REIT’s - - 4,245

Commercial Paper 1,27,605 12,61,956 10,52,952

Total 2,01,750 18,42,844 18,56,366

Note - Debt Includes: Private Placement of Debt Instruments and Public Issue Bonds
Equity Includes: Main Board IPO, SME IPO, Preferential, QIPs and Rights Issues
InvIT’s, REIT’s and Commercial Paper are on standalone basis *Data as of May 2022 14
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BSE LEADERSHIP

*Data as of May 2022

15
BSE - PUBLIC
BSE LEADERSHIP
Designated Exchange for OTB No of Issues Designated Exchange for OFS No of Issues
120 105 40
100 89
80 24
60 20 15
35 13
40
12 12 5
20 4 2 1
0 0
2020-21 2021-22 2022-23 (Till May, 22) 2020-21 2021-22 2022-23 (Till May, 22)

BSE Competition BSE Competition

Amount raised through Electronic Bond Platform – BSE BOND

52% 53%
600000 60%
500000 50%
400000
365344
342338 32%
276776 40%
300000 245561
30%
200000
100000 24952 20%
11950
0 10%
2020-21 2021-22 2022-23 (Till May, 22)
Amount Raised at BSE( Rs in Cr) Amount Raised at Competition( Rs in Cr)
16
BSE - PUBLIC
Data as of May, 2022
BSE SME –INDIA’S BIGGEST SME PLATFORM
Companies on BSE SME Platform ▪ BSE is the first stock exchange in India to receive approval from SEBI
200
374 on 26th September 2011 to launch SME Platform.
232
150
▪ SME IPO Index with a Base value of 100 as on 16th August 2012 is
100 aimed at tracking the companies listed on SME platform was
50 launched on 14th December 2012. As on 31st May,2022 its value
142
was 12,827.42.
0
Listed till Date Migrated to Main Board Currently Listed ▪ The Platform facilitates capital raising by small and medium
enterprises including start-up companies which are in their early
stages of growth.

▪ Total number of Companies listed on SME till date -374

▪ Total Market Capitalization of companies listed on SME till date

48,341 Crs. *(USD 6197.56 Million). Conversion rate is taken $1= Rs.
78.

Data as of May -2022

17
BSE - PUBLIC
BSE STARTUPS –INDIA’S 1ST STARTUP PLATFORM

▪ BSE is the first stock exchange in India to launch Startups Platform on 22nd
December 2018 under SME Segment

▪ The ‘Startup Companies’ seeking to be listed on the BSE Startups Platform

should be in the sector of IT, ITES, Bio-technology and Life Science, 3D
Printing, Space Technology, E-commerce, Hi-tech Defence, Drones, Nano
Technologies, Artificial Intelligence, Big Data, Augmented/Virtual Reality, E-
gaming, Exoskeleton, Robotics, Holographic Technology, Genetic Engineering,
Variable Computers Inside Body Computer Technology and other high-tech
industries.

▪ Total number of companies listed - 14

▪ Market Capitalization - Rs. 654.59 Crs *($83.92. millions)

*(Conversion rate is taken $1 = Rs. 78).

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BSE - PUBLIC Data as of May- 2022
BSE - PUBLIC
EQUITY CASH MARKET

▪ India's largest Exchange with 4,000+

active scripts available for trade
▪ Competitive Transaction Charges
▪ Products:
▪ Stocks
▪ ETF’s
▪ REITs
▪ InvITs
▪ Benefits: Interoperability of Clearing
corporations

Data as of May 2022 20

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EQUITY DERIVATIVES

▪ Products: Futures / Options on Sensex, Sensex 50, Bankex and single-stocks

▪ 7 weekly and 3 Monthly Derivative Contracts
▪ Save upto INR 1.13 lakhs on a round-trip transaction exposure of INR 10 crores due to no transaction
charges
▪ One standard deposit at BSE for all trading segments
▪ Multi-legged order entry facility
Regulatory Benefits
▪ Interoperability of clearing corporations of stock Exchanges
▪ Cross-Margining benefits to the tune of 70% hedge with Nifty 50

21
BSE - PUBLIC Data as of May 2022
CURRENCY DERIVATIVES

▪ Monthly and Weekly Contracts Offered on: USDINR, EURINR, GBPINR, JPYINR
▪ The most cost-effective exchange for hedging currency risk - Capping transaction charges at maximum of INR 3 lakhs,
as compared to upto INR 18 lakhs at other venues
▪ Robust risk management systems.
▪ Innovative Products and Features.
▪ Banks, Foreign Portfolio Investors, Proprietary brokers, Corporates, Retail Clients etc. participâte on BSE CDX
22
BSE - PUBLIC Data as of May 2022
 COMMODITY DERIVATIVES
DELIVERY DETAILS SINCE LAUNCH

Commodity Total Physical quantity of delivery Unit ▪ Commodity Derivatives launch: Oct 1, 2018
▪ Diversified Product Profile
GOLD 12 KG
GOLDM 21100 GRAM ▪ Precious Metals: Gold and Silver
SILVER 7470 KG ▪ Base Metals: Steel & Copper
TURMERIC 770 MT ▪ Agri: Cotton J34, Turmeric and Almond
STEEL 370 MT
▪ Physical Deliveries – an integral part of BSE
ALMOND 238000 KG
COTTON J34 1600 BALES commodity platform
▪ First exchange in India to implement negative
DELIVERY DETAILS FOR THE MONTH OF MAY 2022
price trading facility
Commodity Physical Quantity of Delivery Unit ▪ Waived off many cost associated with
GOLDM 1000 Grams delivery of Commodity on its platform such
STEEL 10 MT as Storage and assaying charges.
ALMOND 1000 KG ▪ Accepts BIS Standard Gold/Silver bars along
COTTON J34 1250 Bales with LBMA on the platform.
Commodities Transaction charges
Futures Rs. 2 Per Crore
Transaction Charges on Active and Passive Orders -Rs.10
Options Per Crore of premium turnover BSE - PUBLIC
23
Data as of May 2022
FIXED INCOME SEGMENT OVERVIEW
Fixed Income Products Key Highlights

Reporting and Settlement • Facility to report and settle Corporate Bond and Government Securities (G-Sec)
Platform (NDS-RST) • Facility to settle Commercial Paper and Commercial Deposits
• Zero Charges for reporting and settlement
• Excellent Support Assistance
• BSE had a Market Share of 32% in Corporate Bond and 58% in Government Securities reporting for FY 21-22
Request For Quote • Web based platform for trade and settlement of Corporate Bonds and CP/CDs
Platform (RFQ) • Zero Charges for trading, reporting and settlement
• Excellent Support Assistance
• BSE’s RFQ Volume was 8,610 crores for FY 21-22
Retail Trading (Corporate • All the BSE listed bonds available for trading in F-Group of Equity Cash Segment
Bonds & G-Sec) • All G-Sec, G-Sec STRIPS, SDL and T-Bills are available for trading in G Group of Equity Cash Segment
• BSE had a Market Share of 65% in for FY 21-22
NCB G-Sec • BSE provides an online bidding platform "NCB – G-Sec" for collecting bids from members on behalf of their clients
• No. Bids collected through BSE’s NCB G-Sec Platform was 11,899 up to May -22
Interest Rate Derivatives • BSE offers Interest Rate Futures (IRF) and Interest Rate Options (IRO) in various tenors of Government Securities
• BSE had a Market Share of 57% for FY 21-22
Tri-Party Repo • Basket Repo with settlement Guarantee | Special Repo without settlement Guarantee
Anonymous Trading • A dedicated platform for anonymous order matching in Corporate Bonds for trading members
Platform

24
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FIXED INCOME SEGMENTS

Data as of May 2022 25

BSE - PUBLIC
 Fixed income segments

Request for Quote (RFQ) Non Competitive Bidding

6.00% 600.000 10000
497.274
5.00% 0.43% 500.000
379.949 8000
4.00% 400.000
3.00% 6000
300.000
2.00% 4000
1.00% 200.000
19.854
0.00% 100.000 2000

0.000 0
T - Bills G - Sec SDL
Request for Quote (RFQ) No. of Trades Request for Quote (RFQ) Amount in Crs. No. of Bids Collected Amount Received (In Rs. Crs)

Interest Rate Derivatives

600.00 100%
500.00 80%
400.00
36% 60%
300.00
40%
200.00
100.00 20%

- 0%
May-21 Jun-21 Jul-21 Aug-21 Sep-21 Oct-21 Nov-21 Dec-21 Jan-22 Feb-22 Mar-22 Apr-22 May-22

Interest Rate Derivatives Average Daily Turnover Value (Rs. In Crs.) Interest Rate Derivatives %Market share

Data as of May 2022 26

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 BSE’S TRANSACTION CHARGES AT A GLANCE
Segment BSE NSE Segment BSE NSE MSEI
Equity Cash Currency Derivatives – Futures
T/O < 1250 Crores 345 345 T/O < 1000 Crores 22 90 90
T/O between 1250 - 2500 Crores 340 340 T/O between 1000 - 2000 Crores 22 80 80
T/O between 2500 - 5000 Crores 335 335 T/O between 2000 - 3000 Crores 22 70 70
T/O between 5000 - 10000 Crores 330 330 T/O between 3000 - 5000 Crores 22 35 70
T/O between 10000 - 15000 Crores 325 325 T/O between 5000 - 10000 Crores 17 35 70
T/O between > 15000 Crores 320 320 T/O between 10000 - 20000 Crores 11 35 70
T/O > 20000 Crores 0 35 70
Equity Derivatives - Futures Currency Derivatives - Options
T/O < 2500 Crores 0 200 Premium T/O < 50 Crores 100 3500 3500
T/O between 2500 - 7500 Crores 0 195
Premium T/O between 50 to 100 Crores 100 3000 3000
T/O between 7500 - 15000 Crores 0 190
Premium Turnover > 100 Crores 100 2500 2500
T/O > 15000 Crores 0 185
Equity Derivatives - Options (on Premium Turnover) Segment BSE NSE MCX NCDEX
Premium T/O < 3 Crores 500 2500 Commodity Derivatives – Futures
Premium T/O between 3 to 100 Crores 500 5300 T/O < 100 Crores 2 0 260 600
Premium T/O between 100 to 750 Crores 500 5050 T/O between 100 - 300 Crores 2 0 260 450
Premium T/O between 750 to 1500 T/O between 300 - 350 Crores 2 0 260 350
Crores 500 4550 T/O > 300 Crores 2 0 175 350
Premium T/O between 1500 to 2000 Commodity Derivatives - Options
Crores 500 4050 Transaction Charges per crore 10 0 5000 3000
Premium T/O > 2000 Crores 500 3300

BSE - PUBLIC Data as of May 2022 27

BSE STAR MUTUAL FUND PLATFORM – PAN-INDIA REACH & COVERAGE

Mutual Funds Registered

Number of registered Number of Schemes

Investors with BSE StAR MF 41 Available

88.89
Million 10,550

Number of Distributors
and Distributors network Number of
72,252 728
associated with BSE StAR cities/towns covered
MF

BSE - PUBLIC 28
BSE STAR MUTUAL FUND PLATFORM

E-platform - access from BSE StAR MF Allows multi-mode e platform

remote areas Mutual Funds access

E-platform for Real-time investor registration&

24x7 order acceptance onboarding, Online MFD
investment and Registration

redemption in
Facilitates paperless SIP Unified Payment Interface
investment units of Mutual
Funds and other
Unique overnight
Allows any day STP or SWP Financial Products investment framework

on behalf of
IFA StAR MF Mobility
Paperless bank mandate clients mobile application

BSE - PUBLIC 29
 WHY STAR MF
Investor risk profiling Portfolio reporting &
business reporting

Complete power-
packed solution for
RIAs/Distributors
Financial planning tools

Enables client
onboarding & eKYC
Regulatory & compliance
requirements

Customer portfolio Customisable admin

management utility module

StAR MF Plus - a premium platform for Distributors and Advisors

BSE - PUBLIC
30
StAR MF-India’s largest online MF
Distribution platform BSE StAR Mutual Fund Platform – Pan-India
Reach & Coverage
▪ 72,727 Distributors and Distributors network
associated with BSE StAR MF
▪ 728 cities/towns covered
▪ 10,550 Schemes Available
▪ 88.89 Million registered Investors with BSE StAR MF
▪ 41 Funds Registered

Highlights for the Month of May 2022

▪ BSE StAR MF, set its highest monthly record of 2.04
Cr transaction in May’22 as against its previous best
of 1.96 Cr transactions in Mar’22.
▪ Processed 2.04 Cr transactions in May 2022
▪ The platform registered 8.17 lakh new SIPs .

BSE - PUBLIC
Data as of May 2022 31
ETF’S BASED ON S&P BSE INDICES

▪ ETF is a security that tracks an index, a commodity or

a sector like an index fund or a sectoral fund but
trades like a stock on an exchange
▪ Most common types of ETFs in India:
▪ Equity ETF
▪ Precious Metal ETF
▪ Liquid ETF

▪ EPFO invests 15% of its investment corpus in large

cap ETFs including S&P BSE Sensex based ETF's
▪ BSE in its effort to bring greater participation for
retail investors in the Indian landscape has tied up
with market makers for ETF’s

▪ As of May 2022, S&P BSE based ETF's asset base has

reached Rs. 1,07,582 crores, of which ETF based on
S&P BSE Sensex Index accounts more than 90%

Data as of May 2022 32

BSE - PUBLIC 32
NEW INITIATIVES

Insurance Broking Power Exchange E-Platform Services KYC KRA

• Commenced insurance • Setup Hindustan Power • Launched an electronic spot • BSE’s wholly owned subsidiary -
broking in Motor, Health and Exchange jointly with Power platform for commodities - BSE Technologies has received
Life Insurance Trading Corporation and ICICI “BSE E-Agricultural Markets authorization to act as a KYC
• Continuous growth of Point Bank Ltd. (BEAM) registration agency (KYC KRA)
of Sales • CERC granted registration to • TReDS platform via BSE from SEBI
• Product diversification establish and operate a Technologies for facilitating • Entity will focus on achieving
• Software integration with power exchange on May, 12, financing/discounting of trade inclusive investor reach in the
various insurance companies 2021 receivables of MSMEs through securities market
• Likely to commence multiple financiers
operations in first quarter of
FY22-23

01 02 04
03
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BSE - PUBLIC
BSE - PUBLIC
DATA BUSINESS PRODUCTS
• Equity Level 1 – Real-time & 1-minute Snapshots
• Equity Level 2 – Real-time
Market Data • Indices – Real-time & 1-minute Snapshots
• Derivatives (Equity , Index , Currency & Interest Rate Derivatives) – Real-time

• Corporate Announcement
• Financial Results
Corporate • Shareholding Pattern
Data • Corporate Action - through SWIFT

• Quotation files
• Annual report
End of day • Daily Bulletin
or Historical • Sector Classification
• Trade and Order book data

BSE - PUBLIC
BSE - PUBLIC
BOLT PLUS - HOSTED MEMBER TRADING INTERFACE
One Window with Multiple Utilities
Exchange Products Users Connectivity Applications
•Equity – F&O – Currency
Live with
– IRF – Commodities – •Dealers •Leased Line • Supports :
•BSE OFS – SLB – Debt – ITP - •Investors •Internet - Exe
StarMF •Admin for HO -Mobile App. Best Price
•Multiple Mini Admin • Single Application for all Execution
•Equity – F&O – for Regions & Branches Users Types &
•NSE Currency – Commodities •RMS • Real Time Market Data and Interoperability
RMS with Interoperability
•Commodities
•MCX

•NCDEX

Application for Desktop and Mobile

▪ Single window for Multi Exchange Segments with all Asset Class.
▪ Combined Market Depth. ▪ No IT infrastructure cost to the Member.
▪ Facility of After Market Orders (AMO). ▪ Completely Hosted Application.
▪ Best Price Execution ▪ Single Application for all Users Types .
▪ Real Time Margining and Risk Monitoring with Interoperability. ▪ Trade commencement in one day.
▪ DP / T1 holding upload with haircut percentage ▪ Real time support services.
▪ MTM Based Single Click Auto square Off. Timer Based Square off. ▪ Payment Gateway Integrated with Bill Desk
▪ Top Gainers / Top Losers - Most Active by VOLUME / VALUE.
▪ Corporate Action Information.
▪ Market Analytics Integration in Mobile
Bolt+on web (BOW)- Free of -cost for all Members 37
▪ NEWS Plus with RSS feeds and Twitter. BSE PUBLIC
BOW API – BUILD YOUR OWN TRADING FRONT END
Single API Interface to Trade on Multi Exchange segments

BOW API- Overview Exchange Covered Segment Support Connectivity

• Supports : • BSE • Equity
- Exe • Equity Derivatives
- Browser • Currency Derivatives
-Mobile App. • NSE • Commodity Derivatives • Internet
• Connect to BOW OMS • Interest Rate Future
• Real Time Market Data and • BSE-Offer For Sale
RMS . • MCX • Leased Line
• BSE-SLB
• High Security – IP Locking.
• BSE-Debt
• BSE-ITP
• NCDEX • BSE Star MF

Key Advantage & Offerings

▪ Multi Fold Advantage: ▪ Key Offerings:

❖ Encourage members/Vendors to develop their OWN Front-End. ❖ Real Time market data to display in innovative ways.
❖ Members Can use Hosted BOW’s Robust OMS and RMS ❖ Order & Trade Management, User Management
❖ No impact of exchange mandated changes on API users ❖ Best Price Execution
❖ No IT infrastructure / Connectivity cost to the Member. ❖ Real Time Margining and Risk Monitoring with Interoperability
❖ Risk Management through BOW Admin interface
❖ DP / T1 holding upload with haircut percentage
❖ Payment Gateway interface
❖ Report Management
38
BSE - PUBLIC
BOW API- Free of cost for all Members
 MULTI EXCHANGE RISK MANAGEMENT SYSTEM –
MERMS-ICCL
Single API Interface to Validate Pre Trade Risk Management for Multi Exchange segments
MERMS API- Overview Key Offerings & Risk Parameters

❖ MERMS is hosted application Key Offerings: Risk Parameters: Exchanges:

for ICCL Members. ❖ Risk management at Member BSE, NSE, MCX and NCDEX.
❖ Client software connection to MERMS Level
❖ Facilitates Risk Management Segments:
services. ❖ Single Interface to Validate pre trade ❖ Risk Parameters ✓ Equity
orders for Multi exchanges. ✓ Margin ✓ Equity Derivatives
❖ Validation of ✓ MTM ✓ Currency Derivatives
Orders generated from. ❖ Real time Pre trade risk management to ✓ Turnover ✓ Interest Rate Future
✓ Client Software multiple exchanges ✓ Exposures ✓ Commodity Derivatives
✓ Algo Software ✓ BSE SLB
✓ Order Value & Limits etc.
❖ MERMS terminal to set risk parameters ✓ BSE DEBT
✓ BSE Repo
❖ ICCL Members can Monitor & at Trading Member level
✓ BSE ITP
control Limits & Risk
Management of TM

Key Advantages

❖ Robust Comprehensive Single Interface RMS for Multi Exchange.

❖ Monitor and Control Trading Member Risk Management .
❖ Prevention of Erroneous orders before sending to Exchange based on risk parameters set
❖ No IT infrastructure / Connectivity cost to the Member.
39
MERMS - Free
BSEof- cost for all Members/ vendors
PUBLIC
 BEST( BSE ELECTRONIC SMART TRADER)- FEATURES
Hosted Trading and Risk Management Application
One Window with Multiple Utilities
Exchanges/Segments Users
Features
•BSE (Equity, Equity Derivatives, Currency •Admin •Real time Risk Management
Derivatives, Commodity Derivatives, StAR MF) •Multiple Parallel Admin •User Management
•NSE (Equity, Equity Derivatives, Currency •Branch Admin •Multi Exchange/Segment trading
Derivatives, Commodity Derivatives) •Dealer
•MCX •Offline Client
•Online Client

Roles & Functionalities

Admin Users

User Management Risk Management Dealers Online Client

• User Creation • Comprehensive Risk Rules • Multiple Exchange & Segments for • Common login for EXE, WEB & Mobile
• Creation & assigning roles • Real time Margin & MTM calculation Trading platform
• Manage Users • Managing different Risk levels • Real time broadcast • Real time broadcast
• Reporting & MIS • Multiple Trading Products • Basket Order, Spread Order, After • Payment gateway
• Send Message • Admin Square off Market Order, Cover Order • Order & Trade reports
• MIS Auto Square off functionality • Historical reports
• Online IV’s for Option Traders
• Payment Gateway
40
BSE
BEST- Free of -cost
PUBLIC
for all Members
 BSE’S -WORLD CLASS TRADING INFRASTRUCTURE

Bolt Plus Live Member Access Peripheral Systems Performance Testing &
connecting to BOLT Plus Benchmarking
➢Products available
for trading - ▪ Reference Data, Risk ▪ Latency : < 6 µs
➢ API based access -
▪ Currency Management, (Gateway in to Gateway
▪ Advanced High
Derivatives – 29th Surveillance, Clearing out)
performance Industry
November, 2013 & Settlement, Data ▪ Network latency for
Standards based APIs
▪ Interest Rates Warehouse Colo users – 10 µs
(ETI, MDI/EMDI,EOBI)
Futures - 28th ▪ Throughput Capacity: 5
January, 2014 lacs order per second
▪ Equity Derivatives ▪ Scalability: Horizontally
- 10th February, scalable by adding
2014 partitions
▪ Equity – 7th April, ▪ In built application level
2014 redundancy
▪ Usage of commodity
▪ Commodity
hardware to ensure
Derivatives – 01st
ease of availiability
October, 2018

41
BSE - PUBLIC
 TECHNOLOGY PROGRAMME –CO-LOCATION FACILITIES
Fastest Co-location

▪ BSE is the fastest Exchange in the world with a speed of 6 microseconds.

▪ NTT – Netmagic has setup a State-of-the-art Data Centre to manage the co-location facilities for BSE
▪ It is the fastest Co-location service in India with round trip network latency of less than 10 microseconds.
▪ The response for an order has round trip latency of about 16 microseconds (including 10 microseconds of Co-location network latency).
▪ Market access across Equity, Equity Derivatives and Currency Derivatives segments.
▪ Extension of Precision Time Protocol (PTP) from BSE’s Grandmaster clock to the Co-location enables members to synchronize with the Exchange clock.
▪ Equitable distribution of market data to all members by usage of same length cables for all members.
▪ Full order book multicast (EOBI) is provided to Co-location members at no cost.

NTT Netmagic Co-location Data Centre

Key technical highlights are:
▪ 10 Gbps Fibre optic cable connection with BSE trading system with full redundancy
▪ 24 X 7 operations support
▪ 24 X 7 High security zone
▪ Uninterrupted Power Supply with DG back up
▪ ITIL and ISO 27001 compliant
▪ FM200 Fire suppression facility
▪ Market Data feed from Thomson Reuters Electron network
▪ 99.999% uptime
42
BSE - PUBLIC
 TECHNOLOGY PROGRAMME-SOFTWARE AND HARDWARE
For services opted by member, BSE bears the cost on behalf of the ALGO Trading
member for; Algo Trading software is available from following vendors for
▪ The software license cost for ALGO trading and market access quoting and market making in Eq. Derivatives including auto
▪ The infrastructure cost on Co-location rack space hedging capabilities across Exchanges and Segments:
▪ The ALGO trading servers at Co-location ▪ Greeksoft Technologies Pvt. Ltd
▪ The internet connectivity between Co-location and member’s office ▪ uTrade Solutions Pvt. Ltd
▪ Resolute Softech

Cost Comparison
Service BSE Other Exchange
Co-location Network Bandwidth 10 Gbps fiber optic network 10 Gbps fiber optic network
Roundtrip Latency (in µsec): Exchange Response Time 6 500 #

Roundtrip Latency (in µsec): Colo Network* 10 500 #

Roundtrip Latency (in µsec): Exchange Response Time + Colo
16 1000 #
Network Latency
10G Switch at Member Rack Not Mandatory Mandatory
10G NIC Card from Exchange per member 2 Solarflare Cards (SFN7322F) NIL
Cost to member for 10G port connection INR.0.50 Lakhs AMC (1 Primary & 1 Secondary ) INR 10 – 20 Lakhs
Full Racks Free One Time Cost : Rs. 1 Lakh plus AMC : Rs.12 Lakhs
Half Racks Free One Time Cost : Rs. 50,000 plus AMC : Rs.6 Lakhs
Quarter Racks Free Not Available
Servers Free Not Available
Algo software Free Not Available
Free Annual Cost per connection
Interactive connectivity cost
Rs.25 Lakhs for 1000 messages/sec
Market data connectivity cost Free Market Data since November 2010.
Free Tick By Tick Data since July 2018.
Free EOBI feed since June 2015.
43
*10G network with Solarflare card SFN7322F with Onload
BSE - PUBLIC # Based on market feedback
 SPONSORED MARKET ACCESS
Implementation of ‘Sponsored Market Access’ (SMA) at Co-location

▪ SMA is a software distribution model in which applications are hosted by a service provider and made available to customers over a network.
▪ Free of cost rack space is allocated by BSE to the SMA Service providers to install their algo trading application server in Co-location. The members can connect to
this SMA algo server at Co-location via Internet.
▪ The algo strategy parameters can be triggered from the member front-end application and sent to the SMA algo server at Co-location.
▪ The corresponding algos will generate orders to be sent to BSE trading system through Co-location network.
▪ The algo orders will be sent to the BSE Trading system via the high speed Co-location gateway for minimum latency.
▪ Members can execute orders over high speed Co-location network without installation of any infrastructure at Co-location by the members.

Advantages

For Members
▪ Zero capital expenditure on infrastructure at Co-location.
▪ The algo orders will be generated at Co-location and sent to the BSE Trading system via the high speed 10G Co-location network for minimum latency.
For Vendors
▪ Free of cost rack space is allocated by BSE to SMA service providers to install their algo trading application server in Co-location.
▪ Vendor can service multiple clients with a centralized algo server installed at Co-location. Hence, vendor’s cost of maintenance is low.

For more details, kindly e-mail to tech.prog@bseindia.com

44
BSE - PUBLIC
SPONSORED MARKET ACCESS NEW FACILITY AT
CO-LOCATION

BSE TRADING MARKET

SYSTEM BROADCAST

PATH 2
PATH 1 10 GIG

FIREWAL INTERNET
L WITH
COLOCATION/ CORE SECURITY
PROXIMITY 10 GIG SWITCH POLICY
GATEWAY
PATH 1 BSE Datacentre

Colocation/Proximity
COLOCATION/ Datacentre (Managed by
PROXIMITY NTT Netmagic)

PATH 3
SWITCH
PATH 1 - Interactive data flow for
PATH 1 10 GIG
members on 10G network

ALGO SERVER OF THE SMA PATH 2 - Multicast Price Broadcast

SERVICE PROVIDER
PATH 3 - Internet Access Path
45
BSE - PUBLIC
 CONTRACT SYMBOLS
Bloomberg Ticker Category Type
SENSEX Index CT S&P BSE SENSEX Index futures Futures contract
BSE100 Index CT S&P BSE 100 index futures Futures contract
SENSEX Index OMON S&P BSE SENSEX Index options Options contract
BSE100 Index OMON S&P BSE 100 Index Options Options contract
LUSA Currency OMON S&P BSE Currency Options Options Contract
LUSA Curncy Currency USDINR Futures Futures Contract
LERA Curncy Currency EURINR Futures Futures Contract
LGBA Curncy Currency GBPINR Futures Futures Contract
LJPA Curncy Currency JPYINR Futures Futures Contract
TBBA Comdty T-Bill Futures Contract
IISA Comdty Gov Bond 8.4% Futures Contract
IIPA Comdty Gov Bond 7.72% Futures Contract

Thompson Reuters Symbols Category Type

0#BIF S&P BSE SENSEX Equity Index Futures contract
0#BHI S&P BSE 100 Index futures Futures contract
0#BIF*.BO S&P BSE SENSEX Equity Index Options contract
0#BHI*.BO S&P BSE 100 Index Options Options contract
0#BIR Currency USD/INR Futures contract
0#BEU Currency EUR/INR Futures contract
0#BGB Currency GBP/INR Futures contract
0#BJP Currency JPY/INR Futures contract
0#BSE91 Treasury Bill Futures contract
0#B883 10 Yr G-Sec Futures contract
0#B716 10 Yr G-Sec Futures contract

46
BSE - PUBLIC
 Disclaimer
This presentation and the discussion may contain certain words or phrases that are forward - looking statements, which are tentative,
based on current expectations of the management of BSE Limited or any of its subsidiaries and associate companies (“BSE”). Actual
results may vary significantly from the forward-looking statements contained in this presentations due to various risks and uncertainties.
These risks and uncertainties include competitive landscape, stakeholders' preferences, effect of economic and political conditions in
India and outside India, volatility in interest rates and in the securities market, new regulations and Government policies that may
impact the businesses of BSE as well as the ability to implement its strategy.
The information contained herein is as of the date referenced and BSE does not undertake any obligation to update these statements.
BSE has obtained all market data and other information from sources believed to be reliable or are its internal estimates, although its
accuracy or completeness cannot be guaranteed. Competition numbers are based on published results and management analysis. For
the purpose of comparison, following stock exchanges are considered – National Stock Exchange of India Limited, Metropolitan Stock
Exchange of India Limited, NSE IFSC Limited, Indian Commodity Exchange Limited, Multi Commodity Exchange of India Ltd and MF
Utilities India Pvt Ltd.

The presentation relating to financial performance herein is reclassified/regrouped based on Management estimates and may not
directly correspond to published data. The numbers have also been rounded off in the interest of easier understanding. Prior period
figures have been regrouped/reclassified wherever necessary. All information in this presentation has been prepared solely by the
company and has not been independently verified by anyone else. This presentation is for information purposes only and does not
constitute an offer or recommendation to buy or sell any securities of BSE. Any action taken by you on the basis of the information
contained herein is your responsibility alone and BSE or its directors or employees will not be liable in any manner for the consequences
of such action taken by you.

The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation
comes should inform themselves about, and observe, any such restrictions.
BSE - PUBLIC