Tasting success with the relaunch of Sensex derivatives in the onshore market, BSE is preparing for the 'offshore' debut of its 30-share index, which has become synonymous with the domestic markets.
Sources in the know said that the India International Exchange (India INX), a subsidiary of BSE, received approval in July from the International Financial Services Centres Authority (IFSCA) to launch Sensex 30 derivatives contracts.
IFSCA is the unified regulator for Gujarat International Finance Tec International Financial Services Centre (GIFT IFSC), India's first and only global financial hub.
BSE has conducted several outreach programmes in the United Arab Emirates and other Asian countries to engage with trading members and establish a trader base ahead of the expected launch in the next two to three months, sources added.
Emailed queries to BSE and IFSCA did not receive a response.
This story is from the September 09, 2024 edition of Business Standard.
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This story is from the September 09, 2024 edition of Business Standard.
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