Asia Index launches S&P BSE India 10-year sovereign bond index

Asia Index, a joint venture of BSE and S&P Dow Jones, has launched the S&P BSE India 10-year sovereign bond index.

The new index would measure the performance of the benchmark 10-year Indian sovereign bond.

"The Index is also the first bond index to be launched by the recently incorporated Asia Index Pvt Ltd, signifying our commitment to providing greater index based tools for Indian investors," Asia Index CEO Alka Banerjee said in a statement on Tuesday.

The benchmark is an Indian Sovereign bond with a fixed coupon and a remaining maturity close or equal to 10 years.

"For index purposes, it is typically the most liquid bond among those meeting the remaining maturity criteria," the statement added.

The index will be calculated in Indian rupees, US dollars and Qatari riyals.

In September last year, BSE and S&P Dow Jones had announced the incorporation of a joint venture company, Asia Index, to provide an array of indices enabling global and domestic investors to participate in South Asian economies.

S&P Dow Jones Indices LLC, a subsidiary of The McGraw-Hill Companies, is the world's largest global resource for index-based concepts, data and research.

BSE is Asia's oldest stock exchange and home to the iconic Sensex index - a leading indicator of Indian equity market performance.