Mumbai, Dec 23: Caspian Broking, a joint venture between Caspian Securities and Chimanlal J Dalal and Sons, has started direct broking operations on the BSE. Caspian Broking formally gained approval to acquire the BSE card of Chimanlal J Dalal and Sons last month. The final approval to the deal was granted by Sebi only last week.

Caspian Securities with offices in London, New York and Hong Kong also has operations throughout Asia, Latin America and Eastern Europe. It is the world's only full-service investment banking group dedicated solely to emerging markets. It offers research, sales, trading, investment banking and asset management services.

After setting up an office in the country, Caspian has acted as the sole placing agent for a $70 million offshore public sector fund managed by UTI.It has also been involved in significant corporate finance deals including the sale of a textile mill.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.