FTSE Group has been selected by Indias new stock exchange, MCX-SX, as its preferred index provider.
The two organisations signed a co-operation agreement in Mumbai and pledged to collaborate to bring a new and broader range of domestic and international indices to the Indian market.
Todays co-operation announcement marks an important step towards establishing FTSE in India, the worlds fastest-growing market, after China. By combining FTSEs indexing heritage with MCX-SXs deep local knowledge, both organisations are confident that they can add value to international and domestic investors seeking to capture the investment opportunities in Indias markets.
A key driver in FTSEs ongoing growth is the increasing number of stock exchanges who trust FTSE to be their preferred index provider.
This partnership will harness MCX Stock Exchanges in-depth understanding of the Indian financial markets alongside FTSEs indexing brand equity to offer market participants a range of new index tools with which they can make informed investment decisions, say Joseph Massey, CEO of MCX-SX and Donald Keith, deputy chief executive, FTSE.
L.D.