Termination of Data sharing: Exchanges ensure market participants of a smooth transition

India's top bourses -National Stock Exchange, BSE and Metropolitan Stock Exchange of India, on Wednesday, provided an update to the decision taken on February 9 regarding licensing of Indian Indices and sharing of Market Data of the listed securities.

The Exchanges have reassured its stakeholders including several foreign exchanges, data vendors, index providers, market participants and investors that the Indian exchanges will work with them to facilitate an orderly transition which is not disruptive to the markets and stakeholders and that they will continue engagement with stakeholders to address any concern.

The release further stated that the Indian exchanges will continue to work with the regulators to further enhance the attractiveness and competitiveness of the Indian markets for accessing and trading India related products.

BSE, NSE and MSE had earlier said they will stop licensing their indexes and securities data to foreign exchanges, stating that such engagements led trading to migrate outside the country. There was confusion among exchanges, data vendors, index providers, market participants and investors regarding the same.