In November 2009, Newedge launched Newedge Broker India Private Limited, a securities company based in Mumbai. The company is initially focused on providing financial derivatives and cash equities to institutional foreign investors.
 

Newedge Broker India Private Limited employs 20 staff. It holds membership and licenses to trade on the NSE (National Stock Exchange of India) and BSE (Bombay Stock Exchange).
 

“The establishment of an India entity is a proud achievement and a logical step for a global company such as Newedge looking to reinforce its position as one of the world’s biggest futures brokers” says Patrice Blanc, Chief Executive Officer of Newedge.
 

Newedge is becoming one of the few brokers to offer coverage and direct access to eight Asian countries, making it quiet a unique set up. It also gives the firm’s institutional clients an access to one of the fastest growing economies in the world, while adding a major market to its global platform.
 

Expectations for additional growth are backed by the rise in volumes on India’s financial markets. The NSE ranked number 8 in the Top Derivatives Exchanges in 2008, with two of its contracts in the top 10 among Equity Index Futures and Options.

“The new entity brings to India a separate and distinct brand which is recognised globally as a leader in the broking industry. The change in structure is significant and provides a platform for further expansion in India” adds Jerome Burban, Managing Director of Newedge India Broker Ltd.

Further plans for expansion include China, where Newedge has offices in Dalian and Shanghai, and plans to open in Ningbo, Shenzhen and Beijing. The application to open the office in Ningbo has already been put through. It is planned to open in early 2010, while no definite dates for the other two offices have been established.