Fidelity MF To Shift Trading Desk To India

Fidelity Mutual Fund may transfer its trading desk from Hong Kong to India.

Fidelity Mutual Fund may transfer its trading desk from Hong Kong to India, Economic Times reports. The move follows the Securities and Exchange Board of India decision that operations of all local fund houses be based within the country.

The Indian regulator has ordered local mutual funds registered in India to shut their overseas operations and bring them back to the country within one year. The Hong Kong desk is also the regional trading centre for the U.S. financial services firm.

Click here for the story from Economic Times.