homefinance NewsExpect equity volume, inflows into market to rise with US clients getting direct access, says NSE
Expect equity volume, inflows into market to rise with US clients getting direct access, says NSE
I expect the equity volume and inflows into market to rise with US clients getting direct access, said Vikram Limaye, Managing Director and Chief Executive Officer, National Stock Exchange (NSE).
NSE become the first Indian stock exchange to be part 30 exempted by Commodity Futures Trading Commission (CFTC).
The CFTC exemption enables NSE members to trade in derivatives for US clients. Part 30 exemption program of CFTC provides US customers with increased access to foreign futures markets
"It’s important to understand that this is not an easy process for the CFTC to approve and exchange for trading of derivatives for domestic trading members of the exchange,” said Limaye.
“This has taken us a few years to get here, so I am glad that we have been able to get this approval,” he added.
He further said it will enable NSE’s trading members to be able to trade broad-based indices directly on behalf of US clients which so far was not permitted.
Limaye expect volumes at NSE to ramp up on account of new products.
All large brokers ready with clients and infrastructure to provide immediate direct access to US clients, he said to CNBC-TV18.
First Published: May 18, 2018 12:31 PM IST
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