BSE gets nod to set up international exchange in GIFT

Mumbai, Aug 11 (IANS) The BSE on Thursday said it has got an approval from Ministry of Corporate Affairs to establish BSE International Exchange and BSE International Clearing Corporation at Gujarat International Finance Tec-City (GIFT).

In 2015, the stock exchange had signed an MoU with the GIFT SEZ Ltd to set up two entities at the country’s first International Financial Services Centre (IFSC).

“BSE intends to develop an international exchange providing an electronic platform for facilitating trading, clearing and settlement of securities, commodities, interest rates, currencies, other classes of assets and derivatives by international investors in the GIFT SEZ-IFSC, subject to necessary approvals and operating guidelines for IFSCs,” a statement said.

“…International stock exchange will provide a platform to trade on equity derivatives, commodity derivatives currency derivatives, interest rate derivatives for Indian and foreign investors,” said stock exchange’s Managing Director and CEO Ashish Kumar Chauhan.

It will also provide platform for global securities listed on the international exchanges such as NYSE, LSE, NASDAQ etc., he said.

–IANS

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