Washington DC - FIA today released the following statement in response to the announcement by three Indian exchanges that they will impose restrictions on the licensing of indices and market data for use by foreign exchanges to offer derivatives based on Indian stocks.
Last Friday's announcement raises serious concerns for FIA members. We have not yet had an opportunity to analyze the implications of this announcement, but it appears likely to disrupt trading on numerous exchanges around the world and alarm international investors. As the leading trade association for the global listed and cleared derivatives markets, FIA is a strong advocate for open and accessible markets worldwide. We believe that accessible markets are essential for the optimal growth and development of liquidity and allow customers to hedge their risks and manage their exposures in the most efficient way possible. We look forward to discussing this announcement with the Indian exchanges and working with our members to more fully understand the consequences for derivatives markets and their customers.