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FTSE Russell and State Bank of India partner to create Indian bond index series

 

  • FTSE-SBI India Bonds Index Series to be launched in 2017
  • Will provide investors with tools to analyse India’s domestic corporate bond market          

FTSE Russell, London Stock Exchange Group’s global index and data provider, today announces that FTSE Russell and State Bank of India (SBI) are working closely to create the FTSE TMX SBI India Index Series. The announcement follows the signing of a letter of intent between the two parties last year. The index series will give market participants from India, the UK and internationally the tools they need to analyse India’s bond market.

The commitment to create this innovative index series demonstrates significant progress in the development of India’s bond market, a priority of the India UK Financial Partnership (UKFP), launched by the Chancellor of the Exchequer and the Indian Finance Minister in July 2014.

Mrs. Arundhati Bhattacharya Chairman of State Bank of India said:

“State Bank of India (SBI), India’s largest Commercial bank, has teamed up with FTSE Russell to launch the FTSE TMX SBI India Bond Index. This index addresses the long felt interest of investors to have a credible benchmark for Indian debt. Launched by FTSE Russell in collaboration with SBI, India’s most active player in the domestic bond market, the index will act as a key enabler for foreign investors looking to invest in Indian debt market and will contribute to accelerating the development and deepening of the Indian bond markets.”

Waqas Samad, CEO of Fixed Income and Multi Asset, FTSE Russell said:

“FTSE Russell has strong relationships across India and we are delighted to be working with SBI to create this new index series for India’s bond market. The launch of a series of indexes that provides investors with the tools to analyse this market represents a significant step in its development. We look forward to working with SBI on this index series and creating innovative index products which can be used to help build investment in India and develop deeper pools of liquidity in the sovereign and corporate bond markets”.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally, with approximately $10 trillion currently benchmarked to FTSE Russell indexes. FTSE Russell ranks in the top 3 fixed income index providers globally. With around 40% of institutional fund AuM currently allocated to fixed income, this is a rapidly expanding area for FTSE Russell offering both global indexes and analytical systems.

London Stock Exchange Group has a long history of working with partners in India and enjoys close collaboration with a number of Indian organisations including National Stock Exchange of India Ltd (NSE). There are currently 44 Indian companies listed in London, with a combined market capitalisation of £142 billion. London has also established itself as the leading centre for off-shore Rupee debt issuance, with 33 Masala bonds listed on London Stock Exchange, raising equivalent to approximately $4 billion.

 

For further information:

Global Media    
Ed Clark +44 (0)20 7797 1222
Tim Benedict +1 212 314 1220
newsroom@lseg.com

Regional Contacts
Hong Kong: Fennie Wong +852 2164 3267
Sydney: Laura McCrackle    +61 2 8823 3526

Notes to editors:

About FTSE Russell:
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide.  FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $10 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com 

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