May 25: India’s leading stock exchange BSE has entered into an agreement with Brink’s India Pvt Ltd, supporting its much-awaited launch of bullion (Gold & Silver) commodities trading.
“Under the agreement, Brink’s will provide Vaulting and logistic services to BSE for the purpose of storage of gold and silver commodities at various places in India. BSE will recognize some of Brink’s vaulting as BSE storage/delivery centers. This arrangement with Brink’s is part of BSE’s preparation to launch commodity derivatives transactions in its bourses,” said an official statement from BSE.
Commenting on the development, Sameer Patil – Head Business Development, BSE said, “BSE and Brink’s fully acknowledge and value our respective strengths, resources, experience and expertise and therefore feel it expedient to join hands for mutual benefits in pursuit of common goals. The integration of Brink’s with our current operations will expand our service reach for facilitating delivery in Gold and Silver contracts.”
Brink’s India provides services like armored car transportation, money processing, long-distance transport of valuables, vaulting and other value-added solutions.