BSE ties up with Brink’s India for providing bullion storage

BSE, formerly known as Bombay Stock Exchange, said it has signed an agreement with the Indian unit of global logistics player Brink’s to provide storage for the upcoming gold and silver trading platform of the BSE.

As part of the agreement, BSE will recognize some of Brink’s India’s vaulting in India as BSE storage and delivery centers for gold and silver.

BSE has been working on launching its bullion trading platform for some time now, and the exchange said the launch is not far.

“This arrangement with Brink’s is part of BSE’s preparation to launch commodity derivatives transactions in its bourses,” it said, adding that the storage will be provided at various parts of India.

BSE used to be India’s biggest stock exchange, but was relegated to the second place after the arrival of the NSE or National Stock Exchange.

“The integration of Brink’s with our current operations will expand our service reach for facilitating delivery in Gold and Silver contracts,” said Sameer Patil – Head Business Development of BSE.