BSE tie-up with Google yields little fruit so far
14 Feb 2011
The Bombay Stock Exchange's bid to monetise its website, one among a series of moves aimed at augmenting its revenue streams as contributions from its main exchange business dwindle, is yet to take off, according to a report.
Revenues from advertisements on its website have not been significant, around six months after Asia's oldest exchange tied-up with Google to turn its popular website, bseindia.com, into a money spinner, says the DNA report.
''The beta phase of the Google tie-up for advertisement is currently going on. Currently, the revenue from advertisement on BSE website is not significant,'' said Ashish Chauhan, deputy chief executive officer of the Bombay Stock Exchange. ''Once the beta phase is successfully completed, BSE will take further decision on expanding the number of pages on which the advertisement will be served.''
The move was seen as part of a series of attempts to set up revenue streams in addition to its core exchange activity, where its share of the business has been dwindling.
The BSE, India's premier bourse till fairly recently, accounted for just 20.71 per cent of the trades which happened in the cash segment and had almost nil share of the derivative segment in January.
The tie-up with Google is expected to help leverage its position as one of the highest viewed websites in India.
