Quote by Shri. Ashishkumar Chauhan MD & CEO - BSE on Regulatory Framework for IFSC in Ahmedabad

Today at a landmark event in Gujarat, Honorable Union Finance Minister Mr. Arun Jaitley announced the framework for India’s first International Financial Services Centre (IFSC) that is being set up in the state capital Gandhinagar. The framework was formally unveiled at the conference at the hands of Honorable Union Finance Minister Mr. Arun Jaitley in presence of dignitaries from RBI, SEBI, and IRDA. Bombay Stock Exchange (BSE), Asia’s oldest stock exchange was one of the first to announce about it establishing India’s first International Exchange at IFSC in the GIFT City. BSE along with its associates and members will be investing to establish this International Exchange in an area of approximately 3 lakh square feet (BUA).

Commenting on this occasion Shri. Ashishkumar Chauhan MD & CEO – BSE said “Setting up on IFSC in Gujarat is a step in right direction. Over last 35 years, since 1978 Hong Kong has played a major role in mobilizing substantial resources for economic development of China. IFSC at Gift city has a potential to play a similar role for India. BSE as the premier institution of India has an onus and duty to work with Government to create a world class regulatory and trading infrastructure to attract Indian diaspora and foreign institutions to invest in India through Gift IFSC. BSE therefore is working in right earnest to set up this infrastructure expeditiously”.

ABOUT BSE:

BSE (formerly Bombay Stock Exchange Ltd.) – Established in 1875, BSE, is Asia’s first Stock Exchange and one of India’s leading exchange groups and has played a prominent role in developing the Indian capital market. BSE is a corporatized and demutualised entity, with a broad shareholder-base which includes two leading global exchanges, Deutsche Bourse and Singapore Exchange as strategic partners. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small-and-medium enterprises (SME).

BSE provides a host of other services to capital market participants including risk management, clearing, settlement, market data services and education. It has a global reach with customers around the world and a nation-wide presence. BSE systems and processes are designed to safeguard market integrity, drive the growth of the Indian capital market and stimulate innovation and competition across all market segments. Indian Clearing Corporation Limited, the wholly owned subsidiary of BSE, acts as the central counterparty to all trades executed on BSE platform and provides full innovation guaranteeing the settlement of all bonafide trades executed on the BSE Platform. BSE Institute Ltd, a fully owned subsidiary of BSE, runs one of the most respected capital market educational institutes in the country. Central Depository Services Ltd. (CDSL), a subsidiary of is one of the two central depository services in India.