India INX members can now access Moscow Exchange via GIFT City
The partnership will create a cost-effective bridge for Indian investors to access trading on the Moscow Exchange (MOEX), Russia's main trading venue for equities, bonds, derivatives, forex and money markets, according to a statement.
India INX Global Access IFSC Ltd, which is a wholly-owned subsidiary of the BSE's India INX, has launched a platform through which Indian clients can trade foreign stocks. It is India's first international exchange set up at GIFT IFSC.
The tie-up with Sova Capital, an international clearing member of MOEX, will provide an outbound connection to all-India INX members and their clients to access all instruments on MOEX and trade the global markets directly from India.
''Today markets are integrated and India INX, as an offshore exchange, has made the first but critically important step by offering unified marketplace that provides access to global markets directly from India,'' Sova Capital Director (Sales) Tatiana Primak said.
''We strongly feel that our cooperation opens new prospects for mutually beneficial business relations between the Moscow Exchange and the India INX and further deepens financial ties between India and Russia,'' Primak said.
Since 2007, Sova Capital (a UK-based and FCA-regulated broker dealer) has utilised 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.
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