Hyderabad Apr 5: Driven by Infosys and Microsoft, the Nasdaq stock marketis likely to make it mandatory for companies to publish financial statementsin multiple languages, Alfred R Berkeley III, president Nasdaq said today.With the exchange's operations spreading across national boundaries andcompanies from various countries getting listed on the market, it is nownecessary to do so, he felt.While Infosys publishes its financials and company details in eightlanguages and Microsoft in six, no other company does that.
At the same time, Nasdaq itself was spreading wings across continents withNasdaq Japan and Nasdaq Europe slated to start operations in April and March2001 respectively, Berkeley told industrialists here.
Therefore the need for information flow in multiple languages gainssignificance, he felt.
While speaking to presspersons, Berkeley said that Nasdaq is planning to setup a small representative office to coordinate the Listing work. However, hesaid that the location for the representative office is not been decidedyet. Depending upon the availability of personnel, the location will bedecided, he added. Asked about the current volatility on the, Berkely feltthat it is a natural result of the free access offered by the exchange.
"Though we are used to volatility in the past," yesterday's fall will bemajor, he said. About 4 to 6 companies from India will list on Nasdaq Duringthe current calender year, he added.
Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.