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4
August 2017
Market
regulator Securities and Exchange Board of India (SEBI) on Thursday approved
the launch of 85 additional derivatives in stock exchanges of Gujarat
International Finance Tec-City International Financial Service Centre (GIFT
City IFSC).
SEBI
elaborated that approval has been granted to BSE's India INX (International
Exchange) and NSE IFSC at the GIFT City IFSC to launch derivatives on
additional 33 and 52 Indian stocks, respectively. The Total Investment & Insurance Solutions
"SEBI
had already operationalised two stock exchanges... and advised that all
categories of exchange-traded products as available for trading in stock
exchanges in FATF/IOSCO (Financial Action Task Force/ International
Organisation of Securities Commissions) compliant jurisdictions shall be
eligible for trading subject to prior approval of Sebi," the regulator
said.
The
approval now allows India INX and NSE IFSC to offer trade in a well-diversified
range of products spanning various asset classes which include Indian index
derivatives, derivatives on Indian stocks, derivatives on foreign stocks,
currency derivatives and commodity futures on gold, silver and base metals. The Total Investment & Insurance Solutions
According
to Vikram Limaye, Managing Director and Chief Executive Officer of the NSE,
additional derivatives will encourage greater participation from foreign
investors.
"This
will enhance the offering of NSE IFSC for India based products and encourage
much greater participation from foreign investors to give GIFT city a
competitive edge among international IFSC's," Limaye said. The Total Investment & Insurance Solutions
On
its part, BSE's India INX said that 54 single stock derivatives will be offered
for trade on its platform from Friday. The
Total Investment & Insurance Solutions
"Starting
August 4, 2017, a total of 54 single stock derivatives will be traded on BSE's
India INX, clocking a market capitalisation of Rs 72,34,061.09 crore, which
amounts to 55 per cent of Rs 1,31,77,196.54 crore on BSE," the stock
exchange major said in a statement.
The
Managing Director and Chief Executive Officer of India INX V. Balasubramaniam
said: "We have sought more product approvals from the regulator and are
looking forward to creating a robust ecosystem for our clients."The Total Investment & Insurance Solutions
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