Nasdaq sets up office in Bangalore

Washington-based Nasdaq Stock Market opened its first office in the Asia-Pacific region in Bangalore Monday, with an eye to attracting Indian companies to list on Nasdaq.

          Washington-based Nasdaq Stock Market opened its first office in the Asia-Pacific region in Bangalore Monday, with an eye to attracting Indian companies to list on Nasdaq.

          "We are interested in information technology companies, bio-technology companies, and even manufacturing companies," Alfred Berkeley, vice chairman of Nasdaq Stock Market, told IDG News Service.

          "Besides giving access to capital, listing on a US stock exchange gives you brand visibility, and credibility with U.S. customers," said Nandan Nilekani, managing director of Bangalore-based software services company Infosys Technologies. "It also gives you the currency for stock swaps for acquisitions and dollar-denominated employee stock options."

          The opening of the office in Bangalore is part of Nasdaq's strategy to spread its wings beyond the US market. "We will look at other Asian countries too as we go along," said Berkeley. "The revolution in telecommunications and the Internet has made it possible for us to take our products to new emerging markets, and we think this is a large growth opportunity for us."

          The Nasdaq Stock Market in Washington DC can be reached at http://www.nasdaq.com/.

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