Largest Exchange to Enter Indian Market
Apr. 15 – The largest exchange in the world, the Chicago Mercantile Exchange (CME), has held talks to possibly enter the Indian market through the purchase of equity stakes in the Indian exchanges.
According to the Business Standard, CME has already talked with several Indian exchanges to purchase stakes. The group is also talking to members of the Multi Commodities Exchange, the National Commodity and Derivatives Exchange and the United Stock Exchange of India.
The CME manages the C-Bot and Nymex exchanges while also offering products like equities, FX, interest rates, commodities and other alternative investments.
CME could be interested in purchasing majority stakes in exchanges although the latest rules do not allow allow foreigners to buy-in at more than a 5 percent stake. Foreign companies will be forced to decrease their stakes to 5 percent by June.
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