Advisers to the National Stock Exchange of India (NSEI) on the development of a new national, electronic stock exchange for both money market and equity instruments. The scope of this work included: preparing a market operations report and a full Request for Proposals, which included a Functional Specification for the trading system; evaluating the vendors' responses, short-listing four of them and then helping to select the preferred one; preparing the contract and advising on contract negotiations; preparing an implementation plan; and advising on the implementation of the systems in a QA role.

Other work carried out in India includes: advisers to multilateral agency as part of a country mission which prepared a report on the securities markets in India for the Finance Minister; review and report on the proposed Central Depository system to the government; review of debt and equity securities market regulations, operations, and performance; advice on overall regulatory structure.

Currently examining aspects of secondary trading in government and corporate debt securities.