The National Stock Exchange of India (NSE) on Thursday said it will introduce Nifty 50 futures to Taiwanese investors in collaboration with the Taiwan Futures Exchange (TAIFEX).
"India Index Services and Products Limited (IISL), a National Stock Exchange (NSE) group company, and Taiwan Futures Exchange (TAIFEX) today (on Thursday) announced their cooperation plan to introduce Nifty 50 futures based on the leading equity index of NSE to Taiwan investors," the NSE said in a statement.
According to the NSE, the Nifty 50 futures -- which are denominated in New Taiwan Dollar (TWD) -- are scheduled to be launched on TAIFEX in the fourth quarter of 2016.
Nifty 50 is the benchmark index of India, which includes 50 companies and represents approximately 66 per cent of the free float market capitalization of the companies listed on the NSE.
"Over the years, Nifty 50 has also become a coveted global brand. IISL is happy to enter into a partnership with TAIFEX to make it available in Taiwan in the form of Nifty 50 futures," said IISL Chairperson and MD and NSE Chief Executive Chitra Ramkrishna.
"India is one of the fastest growing economies in the world and this partnership will enable Taiwan investors to participate in the India growth story. IISL is fully committed to work together with TAIFEX to make this partnership a great success," she said.
Both the stock exchanges will work together for investor education and global market promotion to attract more potential traders to join the market, the statement added.