NSE International Exchange Set to Launch 30 Global Markets for Indian Investors
Synopsis
Key Takeaways
Mumbai, Feb 25 (NationPress) Indian investors are on the verge of being able to purchase shares in 30 international markets through the NSE International Exchange. The exchange intends to enhance its newly launched global investing platform within the next three to six months, as reported by various media outlets.
According to NSE IX Managing Director and CEO V Balasubramaniam, the platform currently facilitates trading in US stocks and is actively working to incorporate additional international markets.
Discussions are in progress to include several nations from the G7, encompassing countries in Europe, Japan, and the United Kingdom.
The NSE IX Global Access platform allows Indian investors to engage in overseas equities seamlessly through a fully digital onboarding process.
Notably, investors are not required to have a demat account to trade on this platform. The exchange adheres to a T+1 settlement cycle, meaning trades are settled the day after the transaction.
The exchange has also pointed out tax and cost advantages, including zero stamp duty, zero Securities Transaction Tax (STT), and zero capital gains tax for non-resident investors.
All trading activities will be conducted in dollars, ensuring that trades, margins, and settlements are handled in US dollars. This setup eliminates the need for currency conversion during transactions.
The trading window will be operational for 21 hours a day, spread across two sessions, enabling investors to take advantage of market movements in Asia, Europe, and the United States, as indicated in the reports.
All transactions conducted on this platform will be monitored by a single regulatory authority, the International Financial Services Centres Authority, which oversees the operations within India’s International Financial Services Centres.
Additionally, NSE IX announced a strategic partnership in January with the Finance Industry Development Council, a self-regulatory organization for non-banking financial companies acknowledged by the Reserve Bank of India.
This partnership allows NBFCs operating in GIFT IFSC to raise funds via the NSE IX platform by listing various financial instruments such as debt.
Operating as an international multi-asset exchange at GIFT City, this collaboration aims to broaden access to both debt and equity products within the IFSC ecosystem and assist in meeting the long-term funding requirements of NBFCs.