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Reuters market data over Net for Indians abroad

Our Bureau

NEW DELHI, Dec. 12

REUTERS India Online SA (ROSA), a Swiss entity of the Reuters Group, is planning to introduce Reuters Market Monitor Services (RMM) for Indian subscribers from outside India directly through the Internet.

RMM already provides direct access to market data, news and research databases to subscribers in India over the Internet. It also facilitates its subscribers to advise their clients on and sell financial products more effectively.

The company has said the Indian company, Reuters India Ltd, would also provide support and maintenance service to the subscribers in relation to the new services offered by RMM.

The Foreign Investment Promotion Board is likely to take up this proposal at its next meeting after the Information and Broadcasting Ministry sought a deferment two weeks ago.

While ROSA has clarified it would provide these services from outside India directly through the Internet, it has not clarified whether the service providers would charge any fee in lieu of the service and if so, what will be the structure of such a fee.

ROSA was earlier granted permission to introduce Reuters Investor Service in India while Reuters India Ltd supports ROSA by entering into a support and maintenance service to the subscribers in relation to Reuters Investor Services. It was also allowed t o introduce Reuters Electronic Brokering Service and for development, provision and support of other software- and information technology-based business solutions and applications in business.