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Tuesday, 6 June 2017

NSE launches international exchange at GIFT city


Leading bourse National Stock Exchange (NSE) launched its international exchange in the Gujarat International Finance Tec-City (GIFT City). NSE IFSC Ltd, the global exchange promoted by NSE, will remain operational for a longer period than NSE during a trading day.

All the trades will be cleared and settled through NSE IFSC Clearing Corporations Ltd. Several products from the currency, commodity and equity segments are expected to get listed on the new exchange which may also introduce other innovative products in line with Sebi regulations.

Markets regulator Sebi has recently issued norms allowing international exchanges to operate up to 23 hours in GIFT and settle trades at least twice a day. NSE's rival BSE has already operationalised its global exchange India International Exchange (INX) at international financial services centre (IFSC).

Static Takeaways for IBPS PO Exam-
  • Gujarat International Finance Tec-City is the full form of GIFT City.

Source- The Economic Times



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