NASDAQ trading on Infosys campus

Sharath S. Srivatsa

First Asian company to get the honour

MYSORE: History was made on Monday when trading on the NASDAQ stock market was opened from the Infosys campus here,making it the first company in Asia to be bestowed the honour.

Infosys Chief Mentor N. R. Narayana Murthy pressed the electronic button as the clock struck 7 p.m. IST (9.30 a.m. Eastern Time U.S.), signalling the commencement of trading.

Cheered by hundreds of employees and trainees of Infosys Technologies, the event marked the opening of trading in the NASDAQ market. Mysore became the third city in the world to get the opportunity of remote belling, the other two being London and Davos.

Coinciding with the 25th anniversary of the technology giant, the bell was rung electronically by Mr. Murthy in the presence of President and Chief Executive Officer of NASDAQ Robert Greifeld.

With this, Infosys Technologies Ltd. got the distinction of becoming the first company from India to ring the remote opening bell only the third time in the 35-year history of NASDAQ which was broadcast worldwide live from the Infosys campus.

The remote opening of NASDAQ trading took place from London in December 2005 and Davos in January 2006.

Mr. Greifeld said the NASDAQ remote ceremonies were held from locations outside the NASDAQ MarketSite and were simultaneously displayed live from the broadcast studio. "These remote ceremonies capture the essence of a typical NASDAQ opening and closing bell. The growth of Infosys has stunned India and the world with the breathtaking pace."

Earlier, Mr. Murthy said: "Being on NASDAQ has been a wonderful experience and we have derived more than what we expected. Many more companies could benefit from NASDAQ platform." Opening of the NASDAQ market from India was not only a great opportunity for Infosys, but also showcased the emergence of the new world.

Montek Singh Ahluwalia, Deputy Chairman, Planning Commission, said it was a matter of great pride and pleasure that an Indian company had been bestowed with such an honour. Infosys had set the highest standard of corporate governance by competing in global market without protection.

The company was an example of success in the post-liberalisation era. Nandan M. Nilekani, Chief Executive Officer, Infosys Technologies was present.

More firms to be listed

Speaking to presspersons, Mr. Greifeld said the world was turning flat and they were optimistic about the future relationship with Indian companies. Recognised growth trends in India could not be denied and those seeking to access deep capital market in the U.S. could do so by listing themselves on NASDAQ.

While they were getting enquiries from Indian companies to be listed on NASDAQ, he said he was not in a position to reveal the names.

When his attention was drawn to the marginal number of companies listed on NASDAQ, he said seven to eight Indian companies were listed and they were also getting enquiries from others. "In fact, more than 300 companies that have been listed on NASDAQ have operations in India.''

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