NE NEWS SERVICE
MUMBAI, DEC 17
The Securities and Exchange Board of India (SEBI), the regulator for the stock exchanges in GIFT IFSC has approved trading access to Moscow Exchange (MOEX) for the members of India INX (Subsidiary of BSE) via Sova Capital, an INX release said.
MOEX is specialized in trading derivatives on oil, gold and other precious metals, RTS index and single stocks and various currency pairs, as well as cash equities, bonds and FX instruments.
India INX Global Access IFSC Limited which is a wholly owned subsidiary of BSE’s India INX has obtained regulatory approvals to provide outbound connect to all the India INX Members and their clients to access the Moscow Exchange. For this purpose, India INX GA proposes to tie up with Sova Capital a leading member of Moscow Exchange and Sova Capital also proposes to take membership of India INX to allow global investors to connect to India INX at GIFT City. This clearly demonstrates a win-win partnership for the BSE Group and Moscow Exchange Group in enabling access to each other’s market and further deepening the good ties between India and Russia.
Commenting on this, Arunkumar Ganesan, MD and CEO,
said, “BSE, India INX and MOEX are collaborating to facilitate the development of channels of communication, which would benefit Global Investors. We strongly believe together we can continue to foster this collaborative relationship for the benefit of the financial services industry in India and in Russia.”
Since 2007, Sova Capital (UK-based and FCA-regulated broker dealer) has utilized its significant balance sheet and product solutions to provide both buy-side and sell-side clients with a global offering covering execution services, prime financing, custody, stock-loan and repo services across both emerging and developed markets.
