Good news for Indian Investors! Now buy and sell US stocks; Apple, Netflix, Bumble Stocks on NSE IFSC

The National Stock Exchange (NSE) through its GIFT City arm in the International Financial Services Centre (IFSC) in Gujarat, has brought in new facilities that will enable investors to buy and sell US Stocks. The NSE International Exchange, which is a wholly-owned subsidiary of the NSE of India announced that US Stocks would be available for trade. This means that Indian investors can now buy and sell stocks in companies like Apple, Google, Microsoft and other prominently listed US entities. The offerings will be in the form of unsponsored depository receipts.

Similarly, the IFSCA has also facilitated the same under the Regulatory Sandbox. With this new change, the entire transactional process of the aforementioned US stocks will come under the authority of the IFSC body. This includes oversight of trading, clearing, settlement and even holding of US stocks. This move is a first of its kind in India, which has been attempted by the Liberalized Remittance Scheme limits prescribed by the Reserve Bank of India. It will enable investors, particularly from the retail segment to transact via the NSE IFSC platform.

The arrangement will now allow investors to hold fractional ownership of US stocks. Having said that, these investors would be able to hold their depository receipts in their own Demat accounts opened in GIFT City and will be entitled to receive corporate action benefits pertaining to the underlying stock, according to a press release.