Global prop houses open in India

Transmarket (TMG) and interests associated with London's GH Financial (GHF) have established proprietary futures trading operations in India, attracted by the country's growing trading community and IT expertise. TMG began recruiting late last year and currently has 14 trainees in its Mumbai office. The firm transferred managing director Sukhvinder Gill from its London office in October 2004 to build the business.

 Gill, who has been with TMG for five years, told FO Week the firm expects to have 25 traders by year end and 40 next year. "India clearly has...