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France's Newedge launches India brokerage unit

Mon Nov 16, 2009 6:29am EST

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MUMBAI, Nov 16 (Reuters) - Newedge, a brokerage jointly owned by French bank Societe Generale (SOGN.PA) and the investment banking arm of rival Credit Agricole (CAGR.PA), on Monday launched an Indian unit to expand its client base.

Newedge Broker India Pvt Ltd will focus on providing financial derivatives and cash equities to institutional foreign investors, said the company, which has identified India and China as priorities for expansion.

The company said it also saw potential growth from the introduction of commodity products in India. (Reporting by Pratish Narayanan; Editing by John Mair)



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