BSE gets approval to establish international exchange at GIFT

It will provide a platform for global securities listed on the international exchanges such as NYSE, LSE, NASDAQ

Leading stock exchange BSE today said it has got approval from the Corporate Affairs Ministry to establish BSE International Exchange and BSE International Clearing Corporation at Gujarat International Finance Tec-city (GIFT).

The exchange had signed an MoU with GIFT SEZ Ltd in January 2015 to set up the two entities at the GIFT city -- India'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," the exchange said in a release.

"BSE's International stock exchange will provide a platform to trade on equity derivatives, commodity derivatives currency derivatives, interest rate derivatives for Indian and foreign investors," Ashish kumar Chauhan, managing director and CEO of BSE, said.

The exchange "will also provide platform for global securities listed on the international exchanges such as NYSE, LSE, NASDAQ etc," he added.