Friday, July 03, 2009
Provide Infrastructure status to financial markets

Seeking infrastructure status for financial markets, Joseph Massey, Managing Director & CEO, MCX Stock Exchange shared his rationale, “As our economy braces itself to launch into the high growth trajectory again during 2009-10, it is critical that the stakeholders are appropriately supported by strong financial markets. Nurturing their growth would not only help minimize risks in the economy but would also help in taking the government's stated objective of ‘financial inclusion' to the next level. Nations across the globe are looking at strengthening the exchange based trading and organized clearing platforms to strengthen the process of risk management and to improve transparency in the markets taking a lesson from the current global financial meltdown and the role of OTC products. Hence, it is time that our financial markets are provided with ‘infrastructure status' to provide them with appropriate fiscal and monetary treatment, helping them strengthen into being ‘price setters' in asset classes that we deserve to be, from being ‘price takers' as history taught us to be. This environment will ensure that the financial market can provide multiple forms of capital with varying degree of risk and maturity on most cost effective manner.”

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