India Index Services & Products Limited (IISL), a joint venture between National Stock Exchange of India Limited and CRISIL. (formerly the Credit Rating and Information Services of India Limited), was setup in May 1998 to provide a variety of indices and index related services and products for the Indian capital markets.It has a licensing and marketing agreement with Standard and Poor's (S&P), the world's leading provider of investible equity indices, for co-branding equity indices.
IISL provides a broad range of services, products and professional index services. It maintains over 80equity indices comprising broad-based benchmark indices, sectoral indices and customised indices. Many investment and risk management products based on IISL indices have been developed in the recent past, within India and abroad. These include index based derivatives traded on NSE, Singapore Exchange (SGX) and Chicago Mercantile Exchange (CME) and a number of index funds and exchange traded funds.
Standard & Poor's plays an active role in the construction, development and maintenance of IISL's indices and brings its international expertise to the joint venture. With this involvement, IISL is committed to providing to the market the same assured quality, objectivity, integrity and service which are a constant source of inspiration to the international markets. This marks the first time Standard & Poor's, the world's largest index services provider, has offered its brand name and technical support to any such venture anywhere in the world.
Objectives of IISL :
IISL pools the index development efforts of NSE and CRISIL into a coordinated whole - India's first specialised company focused upon the index as a core product. IISL has the following objectives:
- To develop, construct and maintain indices on Indian equities that serve as useful market performance benchmarks and are the underlying indices for derivatives trading
- To provide data and information on the trading activity in the Indian stock markets
All the erstwhile indices of NSE and CRISIL, such as Nifty, Nifty Junior, Defty, CRISIL 500, CRISIL Midcap 200 index etc. have been transferred to IISL which now maintains, develops, compiles and disseminates the indices.
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