Global index provider MSCI said that it considers the move by Indian stock exchanges to restrict data feeds as anti-competitive and it could impact India weightage and India asset classification in its indices.
“The breadth of the restrictions imposed by Indian exchanges is unprecedented in any equity market in the MSCI Emerging Market Series,” said the index provider.
The provider added, “MSCI strongly suggests the Indian exchanges and their regulator Securities and Exchange Board of India (SEBI) reconsider this unprecedented and anti-competitive action before it leads to any unnecessary disruptions in trading or a potential change in the market classification of the Indian market in the MSCI Indexes.”
On 9th February India’s top 2 stock exchanges; National Stock Exchange of India Ltd (NSE) and BSE Ltd., terminated the agreements that permitted their index derivatives to be traded on foreign exchanges and data vendors from providing data to entities which would use it to trade on abroad exchanges.
