Nasdaq OMX, the transatlantic exchange, has closed its liaison office in India, people familiar with the matter told the Financial Times.
The move comes after failing to list any Indian company on its New York-based exchange since it set up a presence in Bangalore, the country's information technology hub, in 2001.
“Nasdaq has done a lot in terms of educating companies in India but it has been very difficult for them to list companies on their US exchange and therefore it made no sense to keep an office open here,” said one of India's most senior IT executives, who asked not to be named.
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