Sunday, August 22, 2010

Bombay Stock Exchange signed up with Google ad-revenue program

Bombay Stock exchange, the oldest stock exchange of Asia, tied up with search engine giant, Google, to earn money from advertisements posted on its websites. Now, BSE website visitors would see advertisement on BSE webpage along with stock quotes.

The ads are related to various financial products, stocks and sharemarket , and other businesses. However, BSE is currently experimenting with the program. A reliable source said, "BSE has tied up with Google for a couple of months initially on a trial basis for posting non-broker advertisements on its website,"

The website of Bombay Stock is the most popular stock exchange site according to data presented by Alexa. The site gets one million visitors per day and its page is opened 100 million times.

Similar ad-programs have also been adopted by Nasdaq, London Stock Exchange. Currently, BSE is facing serious competition from MCX-SX and National Stock Exchange as these stock exchanges are also planning to enter into the ad program.

BSE and NSE recently adopted various Internet-based services such as offering latest stock quotes via micro-blogging website, Twitter. In April 2010, BSE also reduced its registration fee for new members to Rs.1 million from Rs.10 million.

Billionaire investor, George Soros acquired 4 percent equity stake in BSE through his hedge fund, Quantum, controlled by Soros Fund Management LLC, from Dubai Financial Holding of Sheikh Mohammed bin Rashid al-Maktoum, ruler of Emirates. Economic Times reported that the deal was worth Rs. 1.6 billion.

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