Domestic exchanges to stop operating indices on international platforms

Indo Asian News Service

Mumbai, Feb 9 (IANS) Domestic exchanges -- BSE, NSE and MSEI -- on Friday said they will stop operating their indices on international bourses.

Currently, Indian exchanges through licensing or other arrangements can create indices based on their market data which could then be licensed to foreign stock markets for trading and settlement.

"It is observed that for various reasons the volumes in derivative trading based on Indian securities including indices have reached large proportions in some of the foreign jurisdictions, resulting in migration of liquidity from India, which is not in the best interest of Indian markets," said a joint statement from the three exchanges.