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April 20, 2015

CHICAGO’S CME contemplates International Exchange at GIFT City

Chicago based CME group is in talks with GIFT City management to set up an international stock exchange and commodity exchange in the proposed GIFT City. Some senior executives of CME have held discussions with GIFT City officials on the available options.

 


The CME group runs some of the world’s biggest stock exchanges like:

  • Chicago Mercantile Exchange (CME)
  • The New York Mercantile Exchange (NYMEX)
  • Commodity Exchange, Inc. (COMEX)
  • Chicago Board of Trade (CBOT)


The word is abuzz that CME is eager to set up an International stock & Commodity Exchange in the GIFT IFSC. Since, the current regulations may not allow 100% equity contribution by only foreign exchanges, CME is likely to collaborate with an existing Stock Exchange of India.


After the release of the regulations concerning GIFT IFSC by FM Arun Jaitley, GIFT City has generated renewed interest among the BFSI sector and companies are keen to set up their shops in the GIFT IFSC. GIFT City management is already talking with International Exchanges like London Stock Exchange (LSE), Dubai Stock Exchange, New York Stock Exchange (NYSE) and Singapore Stock Exchange.
Recently, NCDEX also inked MoU with GIFT SEZ in a bid to open an International Commodity and Derivatives Exchange. NSE and BSE have already announced on their strategies to establish an International Exchanges in GIFT IFSC.

 

 
 
 

 

 

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