BSE Ltd and Bank of New York Mellon have signed an agreement enabling foreign investors to provide AAA rated sovereign bonds traded outside of India as collateral for trades done on the domestic exchange, the two parties said in a joint statement released late on Friday. The two parties said with the signing of this agreement they “aim to enhance the trading experience for foreign institutional and retail investors and bring Indian practices in line with the best in the world”. The move is expected to make it easier for foreign investors to operate in India and reduce their costs of collateral and trading in Indian markets significantly over a period of time.
Posted on: Mon, 29 Sep 2014 03:33:57 +0000
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