IIFL Received Approval For Memberships In Singapore Exchange (SGX).

Online, December 1, 2010 (Newswire.com) - IIFL ( India Infoline Ltd) on Nov. 10,2010 announced that its Singapore-based subsidiary, IIFL Securities Pte Ltd, has received approval for securities trading and clearing memberships from Singapore Exchange (SGX).

IIFL Securities Pte Ltd, which set up its office in early 2008, is the Singapore arm of the India Infoline Group. With this, IIFL becomes the first India-based broker to become a member of the SGX, a company statement said here.

"After receiving formal approval from Singapore Exchange, we have begun setting up systems and infrastructure to commence broking services. This formal approval lends further impetus to the commencement of broking services in Singapore where we aim to leverage upon our research capabilities and effectively cater to global institutional investors," India Infoline Group's Chairman Nirmal Jain said.

"We welcome IIFL Securities, our first Indian broker, to our securities market. We look forward to IIFL becoming a conduit providing access to investment opportunities for its customers in Singapore, India and other markets," SGX's CEO, Magnus Bocker said.

IIFL had been one of the first Indian broking houses to get memberships in the Singapore and Colombo stock exchanges.

About IIFL (http://www.indiainfoline.com) : The IIFL (India Infoline) group, comprising the holding company, India Infoline Ltd (NSE: INDIAINFO, BSE: 532636) and its subsidiaries, is one of the leading players in the Indian financial services space. IIFL offers advice and execution platform for the entire range of financial services covering products ranging from Equities and derivatives, Commodities, Wealth management, Asset management, Insurance, Fixed deposits, Loans, Investment Banking, GoI bonds and other small savings instruments.IIFL has been awarded the 'Best Broker, India' by FinanceAsia and the 'Most improved brokerage, India' in the AsiaMoney polls. IIFL was also adjudged as ''Fastest Growing Equity Broking House - Large firms' by Dun & Bradstreet. Our chairman, Mr Nirmal Jain, was ranked 2nd in a study of 'India's most valuable CEOs' by BusinessWorld in November 2009. A forerunner in the field of equity research, IIFL's research is acknowledged by none other than Forbes as 'Best of the Web' and '...a must read for investors in Asia'. IIFL's research is available not just over the Internet but also on international wire services like Bloomberg, Thomson First Call and Internet Securities where it is amongst one of the most read Indian brokers.

Contact details: Issued on behalf of Mr. Harshad Apte ([email protected]) Vice President , IIFL, by Social Wavelength (www.socialwavelength.com).