NCDEX inks pact for international commodity & derivatives exchange at GIFT City
The National Commodity & Derivatives Exchange Ltd
(NCDEX) on Thursday signed an Memorandum of Understanding (MoU) to establish an
international commodity and derivatives exchange within India's first
International Financial Services Centre (IFSC) at GIFT City, Gandhinagar.
NCDEX is the third exchange after BSE and NSE to sign an MoU
with GIFT City.
GIFT SEZ Ltd - a wholly owned subsidiary of Gujarat
International Finance Tec-City Company Ltd (GIFTCL).
The GIFT City - and NCDEX
signed the MoU at Gandhinagar for setting up an exchange that will provide an
electronic platform for trading, clearing and settlement of securities,
commodities, interest rates, currencies, other classes of assets and
derivatives to international investors within the IFSC.
GIFT SEZ has been notified as India's first International
Financial Services Centre by the Government of India.
Recently, Union finance
minister Arun Jaitley had unveiled regulatory norms for International Financial
Services Center (IFSC) at an event held in Gandhinagar.