Officials from the Bombay Stock Exchange BSE approached counterparts at the US bourse last year to discuss the possibility of creating US dollar-denominated futures contracts and, in November, the two parties signed a licensing agreement. That deal paved the way for US investors to take part in the booming Indian equity market without the need for American depositary receipt authorisation.
Since then the US exchange, which is making its first foray into Asia, has been busy developing the product for clients in the US û mostly hedge funds, institutional investors and mutual funds. We've...
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