India INX applauded for opening Indian market to global

The nine-month old India International Exchange (India INX) has been awarded for being the fastest emerging bourse and recognised for opening up the Indian market to global traders.

The award was given here last night by Futures and Options World (FOW) of the London-based Euromoney Institutional Investor plc.

"We believe that India will open up and will internationalise" through India INX, managing director William Mitting of FOW, said.

"We see India INX as a route to the international market and opening access to Indian products for the global traders," Mitting said.

Mitting sees international clearing houses supporting India INX in its global market expansion.

India INX is in the midst of adding more international products, including the Rupee-denominated Masala Bonds which are launched by Indian corporations and Public Sector Units as well as dollar-denominated bonds.

"The Phase II expansion will list debt securities by Indian and foreign issuers as well as Masala and dollar- denominated bonds," Indian INX managing director and chief executive V Balasubramaniam told

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)