Ending licences anti-competitive: Index provider MSCI slams Indian bourses

Says Indian exchanges' move to terminate licensing and data-feed pacts with global counterparts is anti-completive, could cause disruption and lead to a cut in India's weight on its global indices

Global index provider MSCI has slammed Indian exchanges’ decision to terminate licensing and data-feed agreements with their global counterparts.

MSCI, whose indices, widely used by passive investors, help channel billions of dollars into Indian markets, said the concerted announcement by three domestic exchanges was “anti-completive” and would restrict access to the Indian market.

“MSCI is evaluating the measures’ potential impact on existing financial products and the future accessibility of the Indian equity market for international institutional investors more generally. It is a clearly negative development for the accessibility of the Indian equity market for international institutional investors,” said the index