NSE'S global bourse operations at GIFT to begin in february

NSE'S global bourse operations at GIFT to begin in february GANDHINAGAR: Just a few days after PM Narendra Modi declared the global bourse of the Bombay Stock Exchange (BSE) open, National Stock Exchange (NSE) now has decided to start operations of its international exchange at the GIFT IFSC from next month. This will be the second such exchange at the International Financial

Services Centre (IFSC) at Gujarat International Finance Tec-City (GIFT City).

NSE IFSC Ltd, the global exchange promoted by the National Stock Exchange, has received in-principle approval from the Securities and Exchange Board of India (Sebi) and its operations are expected to begin in February, said a senior NSE official.

"The exchange has also taken space at the GIFT incubation facility. The space is sufficient to run the exchange. Going ahead, NSE will move to its own space," said Ajay Pandey, group MD and CEO of GIFT City said on Wednesday.

NSE also signed an MoU worth Rs 500 crore with GIFT City on Wednesday for an international exchange and clearing house. Among the investment intentions declared on the second day of Vibrant Summit was a Rs 500 crore MoU by BSE for an international exchange and clearing corporation and MCX by a continuity centre in GIFT.