Indian Brokers Group/Reuters Disagree Over Dealing 2000-2

DEALING & NETTING

BOMBAY--Reuters has encountered resistance from the Bombay Exchange Brokers Association (Beba) in its attempts to launch its Dealing 2000-2 Spot FX matching service in India.

While Beba says it welcomes the entry of Dealing 2000-2, it wants the service to be recognized as a broker--which would make Reuters subject to the same rules that apply to traditional voice brokers.

Reuters has applied to the Reserve Bank of India (RBI) for approval to bring the Dealing 2000-2 Spot India CUG (closed use

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