I am happy to launch Dun and Bradstreet India’s (D&B India) publication ‘India’s Leading Equity Broking Houses 2009’. The equity broking industry in India has gained ground in terms of size and significance in the last few years. This publication - the third edition of India’s Leading Equity Broking Houses - will be a valuable source of reference on major developments in the equity broking industry as also a key information provider on leading market intermediaries. D&B’s global footprint and market reach will ensure that the publication is established globally as the premier information resource on the Indian equity broking industry.

The year 2008 was a test of resilience for capital markets in India where the industry, as a whole, had to adopt innovative measures for dealing with the financial crisis. The strong growth of the economy in the past few years seems to have provided a certain amount of cushion to lessen the impact of the global crises on the Indian financial markets. In fact, India’s stock market capitalisation surpassed its GDP with a ratio of more than 100% in 2008. Other major developing economies were not to be left behind either, with the BRIC nations collectively recording an average ratio of more than 100%. Moreover, stock exchanges in the Asia-Pacific region gradually increased their overall share of worldwide market share capitalisation from 22.8% to 28.3% between Dec 2005 and Dec 2008 – a clear indication of the growing importance of emerging economies in the arena of global capital markets.

India is placed amongst the leading major global exchanges in terms of volume and value of trading in equity and derivatives. Recent confidence building measure related to regulations and investor awareness are likely to have a lasting positive impact on the sector. Equity broking houses will continue to play a significant role in the country’s financial sector as the economy gradually stabilises. At Dun & Bradstreet, we will continue to endeavour to meet your expectations from our publication. I look forward to receiving your feedback and suggestions.

David J. Emery
President - Asia Pacific
Dun & Bradstreet