Nomura Fixed Income Securities Private Ltd. (NFIS) today anounced it has been granted a Primary Dealer (PD) licence by the Reserve Bank of India.
"The PD licence will enable our strong fixed income team to leverage their expertise for the benefit of our clients in India, where we offer clients end to end financial solutions," Vikas Sharma, President and CEO of Nomura India, said.
"This important milestone in the buildout of Nomura's Indian operations adds significant fixed income activities to our burgeoning franchises in equities, investment banking and asset management," he added in a statement.
Pankaj Vaish, Nomura's Head of Equities and Fixed Income, Liquid Markets for India, said "India is a very important market for Nomura."
That is why we are launching our fixed income business with a very strong team that had a large market share in the past. Using our global technical expertise, we expect to the market leaders in the new products being rolled out in India," he said.
NFIS would be Nomura's flagship entity in India to pursue trading and client related activities in the Indian fixed income market, which is arguably the second largest in Asia (after Japan), it added.