JF starts trading on Indian stock exchange

JARDINE Fleming (JF) has started trading the Indian market from its newly awarded seat on the National Stock Exchange of India.

Jardine scored a coup when it became the first foreign brokerage to be awarded a seat on the Bombay exchange.

The investment bank has been an active player in India's burgeoning stock market, acting as a go-between for Indian brokers and foreign investors.

Final approvals from the Ministry of Finance were given last month, clearing the way for foreigners to sit as directors on the boards of Indian broking companies.

The recently formed National Stock Exchange is India's only exchange to have screen-based trading and listings.

Mark Bullough, managing director of Jardine Fleming India Securities, said: 'We intend to widen and deepen our commitment to India in the future, and our membership as a fully-fledged broker will have a significant impact on our ability to do this.' Henry Strutt, managing director of Jardine Fleming Holdings, said: 'This is another significant first for Jardine Fleming and a further example of our strategy of strengthening our regional presence in Asia.'