NYSE Buys 20% Stake in NSE

Tuesday, January 16, 2007

The New York Stock Exchange (NYSE) has been following a policy of investing in emerging markets, and the latest purchase is a 20% share in the Mumbai-based National Stock Exchange (NSE).

This deal will give the NYSE access to stocks and derivatives in the Indian market and attract major Indian companies to list with it. Presently, NYSE’s rival NASDAQ Stock Market Inc. has key Indian companies on its listing.

Investment bank Goldman Sachs Group Inc. and private equity firm General Atlantic have partnered NYSE in this buy-out, along with Japanese media and financial conglomerate Softbank Corp. NYSE’s Chief Financial Officer Nelson Chai believes India is one of the fastest growing markets in the world, and in its strategy of globalization, this move would ensure a tactical growth.

Photo: Hyderabad Streets BusStop by ReDHumus.Org Abonamos el cambio, licensed under CC BY-SA 2.0, via Wikimedia Commons.