Monday, October 17, 2005

P-notes: a simple derivative instrument to play in Indian markets

|| Businessworld - Play the game ||

Just read about these instruments which allow foreign investors to take part in the booming Indian stock market (and which allow for anonymity as well). SEBI seems to be a bit worried about these instruments, but heck, the market is booming, so who cares, right? Of course, Indian markets have always had distrust of financial engineering innovations, but this seems like a positive development.

Securities and Exchange Board of India (Sebi) has decided to allow hedge funds to operate in the Indian stock markets through the participatory notes if they conform to the guidelines being finalised by it.

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