Indian investors will soon have the opportunity to purchase shares in 30 global markets through the NSE International Exchange. The exchange is set to enhance its global investing platform in the next three to six months. Currently, investors can trade in US stocks, with plans to include more international markets in the future.
NSE IX Managing Director and CEO V Balasubramaniam mentioned ongoing discussions to incorporate several G7 nations, including countries in Europe, Japan, and the United Kingdom. The NSE IX Global Access platform facilitates Indian investors in investing in overseas equities through a fully digital onboarding process.
The platform eliminates the necessity for investors to have a demat account to trade. Transactions on the exchange follow a T+1 settlement cycle, where trades are settled one day post-transaction. Moreover, the exchange offers various tax and cost benefits, including zero stamp duty, zero Securities Transaction Tax (STT), and zero capital gains tax for non-residents.
Trading activities on the platform will be in US dollars, with all trades, margins, and settlements conducted in the same currency. This setup removes the requirement for currency conversion at the transaction level. The trading window will be open for 21 hours a day across two sessions, enabling investors to track market movements in Asia, Europe, and the United States.
All transactions on the platform will be overseen by a single authority, the International Financial Services Centres Authority, which regulates operations in India’s International Financial Services Centres. In a separate development, NSE IX announced a strategic partnership with the Finance Industry Development Council in January. This collaboration allows NBFCs in GIFT IFSC to raise funds through the NSE IX platform by listing debt and other financial instruments.
NSE IX, functioning as an international multi-asset exchange at GIFT City, aims to broaden access to debt and equity products within the IFSC ecosystem. The partnership with the Finance Industry Development Council supports the long-term funding requirements of NBFCs.
