Trading on NSE IFSC for select-US based stocks to commence from March 3

Trading on NSE IFSC (NSE International Exchange) for select-US based stocks will commence from March 3, showed circular from the NSE.

Launched on June 5th, 2017, NSE IFSC Limited offers longer trading hours in various products, including Index Derivatives, Stock Derivatives, Currency Derivatives, Commodity Derivatives and Debt Securities

Trading on NSE IFSC (NSE International Exchange) for select-US based stocks will commence from March 3, showed circular from the NSE. The NSE IFSC is a wholly owned subsidiary of the National Stock Exchange of India Ltd (NSE).

The offering will be in the form of unsponsored depository receipts, it said.

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The NSE International Exchange has been launched to grow the financial market as well as expected to bring capital into India.

Now, once operational, US stocks such as Google, Amazon, Tesla, Facebook, Microsoft, Netflix, Apple, Walmart etc will be available for trading via this platform.

Trading on NSE IFSC for US based cos to commence from March 3.
Will share more details on who all can participate etc in sometime. pic.twitter.com/iJI1ta4dwK

— Hemang Jani (@hemangjani9) March 1, 2022

Vikram Limaye, MD & CEO, NSE had said: “This will be an innovative product that enables resident individuals to easily and cost effectively invest in US stocks under the LRS framework of RBI (which permits the resident individuals to remit up to USD 2,50,000 per financial year for any permitted current or capital account transaction).”

Revised timings for NSE IFSC Receipts.

Recently the NSE has revised trading hours applicable to NSEIFSC Receipts

Trading Hours Timings *

NSEIFSC Receipt Market Open Time: 20:00 hrs

NSEIFSC Receipt Market Close Time: 2:30 hrs (Next Day)

Position Limit/Collateral value Set up cut off time 2:45 hrs (Next Day)

Trade modification end time 2:45 hrs (Next Day)

"Time will be adjusted based on Day Light Saving changes, as applicable and as communicated through circular from time to time. The trading shall be conducted over the span of two calendar days and such trading cycle shall be considered as one single business day," said the NSE circular.

Earlier, NSE IFSC has been set up at Gujarat International Finance Tec-City with an aim to facilitate trading in select US stocks through the NSE IFSC platform. "The offering will be in the form of unsponsored depository receipts," NSE said.

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