NSE IX Gets SEC Class Relief; Permits US Clients to Trade on Equity Index Option Contract - News18

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NSE IX is an International multi-assets exchange set up at GIFT City in June 2017 and recognised by the International Financial Services Centre Authority. (File Photo)

NSE IX is an International multi-assets exchange set up at GIFT City in June 2017 and recognised by the International Financial Services Centre Authority. (File Photo)

The class relief allows NSE IX members to get acquainted with equity indices at NSE IX through activities with approved broker-dealers and financial institutions in the US

NSE International Exchange (NSE IX) has received US Securities Exchange Commission (SEC) class relief, allowing US clients to participate in trading Equity Index Option Contracts on the bourse, according to a statement. The class relief allows NSE IX members to get acquainted with equity indices at NSE IX through activities with approved broker-dealers and financial institutions in the US.

Also, this class relief permits eligible broker-dealers and large financial institutions based in the US to trade on these index derivatives options contracts through NSE IX members, subject to compliance with the applicable laws, the bourse said in the statement on Friday. NSE IX is an International multi-assets exchange set up at GIFT City in June 2017 and recognised by the International Financial Services Centre Authority (IFSCA).

Earlier in November 2020, it became the first International Exchange in Gift City to get an exemption under part 30 by the Commodity Futures Trading Commission (CFTC). The CFTC exemption enables NSE IX members to trade in futures derivatives for US clients. These exemptions permit NSE IX members to accept US clients’ funds directly for the purpose of trading in futures and options contracts on NSE IX even without the members having to get registered with the CFTC and SEC as a futures commission merchant or SEC member respectively.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed - PTI)
Mohammad Haris
Haris is Deputy News Editor (Business) at news18.com. He writes on various issues related to markets, economy and companies. Having a decade of experi...Read More
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