Nanoparticles of transparent conducting oxides, such as indium tin oxide, can be used in printing techniques to generate functional layers for various optoelectronic devices. Since these deposition methods do not create fully consolidated films, the optical properties of such layers are expected to be notably different from those of the bulk material and should be characterized on their own. In this work we present a way to measure the effective refractive index of a particulate ITO layer by refraction of light. The obtained data points are used to identify an accurate layer model for spectroscopic ellipsometry. In this way the complex refractive index of the particle layer is determined in a wide spectral range from ultra violet to near infrared.