Tug of war

Exchanges have come out with a joint communique in terms of their business interest. What they are saying, as I read it, is that they are trying to ensure that liquidity on those indices stay in the country. These are commercial decisions. I won't say it is retrograde.

Ajay Tyagi Sebi chairman

THE ISSUE

Exchanges fear export of liquidity and trades to foreign bourses

WHAT BSE, NSE DID

Restricted data feeds to overseas exchanges and end association

SGX REACTION

Will continue trades in Indian single-stock futures; to develop new products of Indian securities for global investors