BSE adds S&P to its indices

BSE has roped in Standard and Poor's to use the S&P brand for Sensex and other indices such as BSE 200 and BSE 100, a week after the expiry of the global financial major's pact with rival exchange NSE.

"BSE and S&P Dow Jones Indices announced today a strategic partnership to calculate, disseminate, and licence the widely followed suite of BSE indices," BSE said in a statement.

The partnership would allow S&P Dow Jones Indices to further implement its South Asia growth strategy. It also permits S&P Dow Jones Indices to have a fourth major operational hub by which to support clients globally after operations in Hong Kong, London and New York.

As of December 31, 2011, more than $1.5 trillion is directly indexed to S&P Dow Jones Indices' family of stock market indices.

The deal with BSE comes soon after the expiry of the licencing arrangement between India Index Services & Products (IISL), a joint venture of NSE and S&P-owned Crisil.

S&P's, last week, ended its licencing agreement for benchmark indices of the National Stock Exchange (NSE), pursuant to which the bourse can not use S&P name for any of its products.

"Effective today, each of the BSE indices will be co-branded "S&P" including the BSE Sensex, BSE 200 and BSE 100," the 137-year old exchange said in statement.