February 15, 2018 / 11:25 PM / 9 months ago

MSCI asks India's stock exchanges to reconsider anti-competitive measures

Feb 15 (Reuters) - Global index provider MSCI Inc on Thursday “strongly suggested” that India’s three main stock exchanges reconsider their anti-competitive measures that restrict the accessibility of the Indian equity market to foreign exchanges.

The National Stock Exchange, BSE Ltd and Metropolitan Stock Exchange said last week that they would stop licensing products and data to foreign exchanges to prevent trading from migrating overseas.

The breadth of the restrictions announced were “unprecedented” and could lead to “unnecessary disruptions in trading or a potential change in the market classification of the Indian market in the MSCI Indexes”, the index provider warned the Indian exchanges and markets regulator Securities and Exchange Board of India.

Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila

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