Indian exchanges terminate licensing tie up with foreign players

Restrict date-feed; move to curb export of domestic liquidity from overseas markets, such as Singapore, Dubai

In a drastic move, Indian exchanges have terminated licensing agreements for use of their indices and data feeds with their foreign counterparts. The move is to curb or to reverse the export of India’s financial markets to overseas trading platforms such as Singapore Exchange (SGX) and Dubai Gold & Commodities Exchange.

“The existing licensing agreements for licensing indices, prices of Indian securities for trading derivatives on foreign exchanges or trading platforms shall be terminated with immediate effect, subject to the notice period mentioned in the respective licensing agreements,” said National Stock Exchange (NSE), BSE and Metropolitan Stock Exchange (MSE) in