07:16 AM EST, 12/12/2024 (MT Newswires) -- Nomura Holdings ( NMR ) and Morgan Stanley ( MS ) are set to roll out a foreign exchange market facility in India, Bloomberg News reported Thursday, citing people familiar with the matter.

Nomura's Nomura Fixed Income Securities unit recently approved the initiative for its Indian primary dealership and expects to roll out the service in the next few weeks, while Morgan Stanley India Primary Dealer Private is also close to implementing similar services, according to the report.

Both companies have been building systems to comply with the Reserve Bank of India's reporting norms, Bloomberg said, citing its sources.

Morgan Stanley ( MS ) and Nomura did not immediately respond to MT Newswires' requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)