London stock exchange group to set up technology centre in Hyderbad:
The London Stock Exchange Group (LSEG) has announced its plan to set up a technology centre of excellence in Hyderabad, India. This move is expected to create about 1,000 jobs a year and boost the Banking, Financial Services, and Insurance (BFSI) sector in the city. The announcement was made after Telangana IT and Industries Minister KT Rama Rao’s meeting with LSEG Group CIO Anthony McCarthy in London.
LSEG: A Global Financial Market Infrastructure and Data Provider:
The London Stock Exchange Group is a leading global financial market infrastructure and data provider, serving customers in 190 countries and operating in 70 countries worldwide. It has over 2,000 issuers across 100 countries, and its benchmark of USD 161 is linked to FTSE Russell indexes. With its extensive reach and influence in the global financial industry, LSEG continues to be a major player.
Hyderabad as a Growing Hub for BFSI:
Hyderabad has emerged as a growing hub for the BFSI industry in India. The establishment of LSEG’s Technology Centre of Excellence in the city is expected to significantly boost this sector and create ample employment opportunities. This move is in line with the Indian government’s efforts to attract more foreign investment and promote the growth of the country’s economy.
LSEG’s Investment in India:
LSEG’s decision to set up a technology centre of excellence in Hyderabad is part of its larger investment plan for India. The company has already established a presence in Mumbai and Bangalore, where it provides a range of services to its customers. The establishment of the Technology Centre of Excellence in Hyderabad will further strengthen its foothold in the Indian market.