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FTSE Russell and State Bank of India launch Indian bond index series

 

 

 

  • FTSE SBI Bond Index Series launched
  • Provides investors with tools to analyse India’s domestic government bond market

FTSE Russell, the global index and data provider and the State Bank of India (SBI) have launched the FTSE SBI Bond Index Series. The index series gives market participants from India, the UK and internationally the tools they need to analyse India’s government bond market.

The launch of this innovative index series demonstrates significant progress in the development of India’s bond market, a priority of the India UK Financial Partnership (IUKFP), launched by the Chancellor of the Exchequer and the Indian Finance Minister. To celebrate the launch Mrs. Arundhati Bhattacharya, Chairman of State Bank of India, along with Mark Makepeace, CEO of FTSE Russell and Nikhil Rathi, CEO of London Stock Exchange opened trading in London today.

For further information on the FTSE SBI Bond Index Series please see the ground rules.

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

"State Bank of India (SBI), India’s largest Commercial Bank, has been at the forefront of development of financial markets in India. We have teamed up with FTSE Russell to launch the FTSE SBI Bond Index Series. This index will act as a key benchmark for Indian debt for foreign investors looking to invest in the Indian debt market and will significantly contribute to the development and broadening of the Indian Bond Market."

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

"FTSE Russell has a strong track record of forging partnerships to create fixed income solutions for fast growing domestic markets.  India has a significant domestic bond market that continues to see strong demand from foreign investors.  This partnership with SBI, a leading Indian bank, enables us to be at the forefront of fixed income index innovations in India and we look forward to further developing index products that can create greater awareness and foster liquidity across the India domestic fixed income spectrum".

Sherry Madera, City of London Corporation, special advisor for Asia said:

"City of London welcomes Mrs Bhattacharya and congratulates her warmly on her tenure as Chairman of State Bank of India.  SBI has been a longstanding partner in the City since 1921, establishing its first International office and successfully expanding its business to now within 35 countries across the globe. The City of London is delighted to welcome the FTSE Russell State Bank of Indian Bond Index Series and considers it an excellent example of London’s commitment to the Indian financial markets and to offering tools and products for international investors seeking exposure in India."

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally, with approximately $15 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 36 Indian companies listed in London, with a combined market capitalisation of £164 billion. London has also established itself as the leading centre for off-shore Rupee debt issuance, with 21 Masala bonds listed on London Stock Exchange, raising equivalent to approximately $4 billion.

State Bank of India is the largest Bank in India with leading presence across all market segments. SBI is currently ranked among the top 50 Banks in the world. It has a 211-year-old history in the Indian Banking Industry with an overseas network of 206 foreign offices spread across 35 countries, with the objective of serving the growth aspirations of Indian corporates and individuals, globally as well as domestically.

 

– Ends –

For further information:

Global Media 
Ed Clark +44 (0)20 7797 1222
Lucie Holloway
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 leading global index provider creating and managing a wide range of indexes, data and analytic solutions to meet client needs across asset classes, style and strategies. Covering 98% of the investable market, FTSE Russell indexes offer a true picture of global markets, combined with the specialist knowledge gained from developing local benchmarks around the world.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $12.5 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 investment funds, ETFs, structured products and index-based derivatives. FTSE Russell indexes also provide clients with tools for asset allocation, investment strategy analysis and risk management.

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For more information, visit www.ftserussell.com 

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