NSE warns index compilers to not involve themselves in offshore dispute

The warning come after the NSE and two other bourses said they would end licensing and market data agreements with foreign exchanges

India’s biggest exchange operator, which cut ties with its international counterparts in an effort to rein in offshore derivatives, warned index compilers about involving themselves in the dispute.

Vikram Limaye, chief executive officer of the National Stock Exchange of India Ltd., said in an interview that his company’s relationship with MSCI Inc. depends on the New York-based firm telling its clients to not use its data for futures and options contracts based on Indian stocks.

His comments come after the NSE and two other bourses said they would end licensing and market data agreements with foreign exchanges, a move that shocked investors