BSE to launch Sensex futures on US bourse: Report

India's leading bourse Bombay Stock Exchange, which is planning listing on its own platform, is all set to launch benchmark Sensex-based futures on the US Futures Exchange in Chicago this week, a media report said on Monday.

"Futures based on its benchmark Sensex index are set to launch on the US Futures Exchange in Chicago this week," the Financial Times reported.

The BSE could list on its own platform through an initial public offering or a direct listing this year, the daily said.

Speaking to the newspaper, BSE's managing director and chief executive Rajnikant Patel said a number of issues, including whether to hold an IPO and raise cash or to list the shares directly on the market, were yet to be resolved.

"In terms of time to market, listing without an IPO would be the quickest way. We don't need additional cash as of now," Patel was quoted as saying by the newspaper in an article published in its online edition.

According to the report, there were technical issues which need to be addressed by the regulators such as the question that with whom the BSE would sign its listing contract.

Currently, firms listing on the bourse ink a contract with the exchange itself. Another issue was how the exchange would be regulated. The easiest option would be direct monitoring by market regulator SEBI of the exchange's activities to ensure it is conforming with the listing requirements, it added.

Pointing out that once these matters were resolved, a listing could be held in a matter of months, Patel told the newspaper, "Suppose we received SEBI and other regulatory approvals, whatever is required, it would take 90-100 days".

Further, the report added that the move to list BSE, part of "efforts to reform India's second-largest equities market after its demutualisation in 2005, comes as it seeks to raise its international profile."