Bombay Stock Exchange, the oldest bourse in Asia has decided to part its ways with S&P Dow Jones, which manages and operates benchmark Sensex. According to the BSE officials, the exchange is planning to develop indices on its own, through its in-house development team.

In 2013, The two entities had announced to form a joint venture, named Asia Index; in order to provide an array of indices enabling global and domestic investors to participate in South Asia’s growing economies.

BSE Managing Director and Chief Executive Ashishkumar Chauhan stated, “Basically, we had done this tie-up five years back, but the joint venture could not do much in terms of expanding in the foreign jurisdiction, the usage of the indexes and all, and that is why we have decided to not renew it, but overall the impact on profits or on the revenues will be minuscule.”

The exchange officials added that BSE will not renew its agreement with S&P Dow Jones Indices LLC which expires on 31 December 2018 and it is looking to develop indices through its own team.

National Stock Exchange which is a rival to BSE, has their indices managed and operated by NSE Indices, an arm of National Stock Exchange.

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