SEBI approves commodities for trading in Financial Service Centre
Published: Aug 04, 2017
By TIOLCORPLAW News Service
NEW DELHI, AUG 04, 2017: India's first International Financial Services Centre, Gujarat International Finance Tec-City International Financial Service Centre (GIFT City IFSC) has been set up with an objective to enable Indian entities to compete on an equal footing with offshore financial centres and to provide facilities and regulations comparable to other leading international financial centres in the world.
Stock Exchange Board of India (SEBI) had already operationalized two stock exchanges namely India INX and NSE IFSC in GIFT City IFSC and advised that all categories of exchange-traded products as available for trading in stock exchanges in FATF or IOSCO compliant jurisdictions shall be eligible for trading subject to prior approval of SEBI. SEBI has now accorded approval to India INX and NSE IFSC to launch derivatives on additional 33 and 52 Indian stocks, respectively.
With the above, India INX and NSE IFSC have been permitted to offer trading 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.