Intercontinental Exchange launches India operations with 500 staffers

Intercontinental Exchange Inc, leading operator of global bourses and clearing houses, on Wednesday said it has launched its operations in India by formally opening its headquarters in Hyderabad.

The facility in Hyderabad will initially focus on providing ICE Data Services' reference data, Intercontinental Exchange said in a statement.

ICE Data Services, a part of Intercontinental Exchange, offers pricing and analytics, indices and exchange data services which help customers address their investing, trading, compliance and risk management requirements across a broad range of asset classes.

Initially, ICE Data Services India will initiate its operations with more than 500 staffers, with flexibility to add several hundred additional employees in the future, it said.

"India is an important part of ICE's global growth strategy and a vital resource as we partner with and serve customers around the world," Intercontinental Exchange President Benjamin Jackson said.

"With its deep pool of talent and diverse culture, our investment in India will help grow ICE Data Services and other elements of our business which form the core of our comprehensive trading and risk management offerings for our customers," he added.

Sachi Pati, head of ICE India, will lead the Indian operations.

"Hyderabad offers us several advantages given its status as a fast-emerging hub for data services," Pati said.

"Good business and social infrastructure, connectivity across the globe, and its reputation for attracting a large number of MNCs over the last few years made it an ideal choice for setting up of our operations in Hyderabad," Pati added.