FTSE partners Indian stock exchange to offer new indices

FTSE Group has partnered with India's stock exchange MCX-SX in order to offer a broad range of domestic and international indices to the Indian market.

The index provider signed a cooperation agreement with the exchange last week, which allows FTSE to establish its presence in India, the fastest growing market after China. FTSE Group chief executive officer Donald Keith says: "There is significant growth in India over the long term, similar to China. However, it is not an easy market for foreign investors to access due to a range of reasons, including regulatory and cultural differences, so it is important to have a strong local partner." He explains that MCX-SX was created by Financial Technologies because there was a gap in the mar...