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MEDIA
COVERAGE
On
NCDEX MoU with GIFT City
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The Hindu Business Line
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17-04-2015
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04
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The Financial Express
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10
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Mint
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17-04-2015
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The Indian Express
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Ahmedabad
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17-04-2015
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The Times of India
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17-04-2015
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Business Standard
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Mumbai, Chandigarh
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17-04-2015
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DNA
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Ahmedabad
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17-04-2015
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DNA
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17-04-2015
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Economic Times (Guj)
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Ahmedabad
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17-04-2015
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NavGujarat Samay
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Ahmedabad
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17-04-2015
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12
ONLINE COVERAGE
Press Trust of India
NCDEX inks pact to set up intl commodity bourse in GIFT city
New Delhi, Apr 16 (PTI) NCDEX intends to set up an International Commodity and Derivatives
Exchange at the GIFT city near Ahmedabad, the leading agri-commodity bourse said today
after signing an agreement in this regard.
The proposed bourse would be subject to necessary approvals and operating guidelines for
International Financial Services Centre (IFSC), NCDEX said in a statement.
The exchange said it has inked a memorandum of understanding in this regard with GIFT SEZ
Ltd, a subsidiary of Gujarat International Finance Tec-City Company Ltd (GIFTCL) known as
GIFT City.
"This MoU would help in attracting various international financial and commodity trading
players and encourage global exchanges to set up base at GIFT IFSC," GIFT City Group's Chief
Ramakant Jha said.
Speaking on the occasion, NCDEX Managing Director and CEO Samir Shah said: "This tie up
will allow Indian and global entities to deal in financial products and services from India,
making GIFT-India as one of the foremost International Financial Centres in the world."
The Gift City, inaugurated on April 10, is five minutes drive from Gandhinagar. It is intended
to be a global financial hub. It will have an international financial services centre which is a
financial sector SEZ.
The Gift City, a joint venture company, has been promoted on a 50:50 basis by the Gujarat
Urban Development Company Ltd and the Infrastructure Leasing and Financial Services
Limited (IL&FS).
Economic Times
http://economictimes.indiatimes.com/markets/stocks/news/ncdex-inks-pact-to-set-upinternational-commodity-bourse-in-gift-city/articleshow/46950628.cms
NCDEX inks pact to set up international commodity bourse in GIFT city
By PTI | 16 Apr, 2015, 11.22PM IST
NEW DELHI: NCDEX intends to set up an International Commodity and Derivatives Exchange
at the GIFT city near Ahmedabad, the leading agri-commodity bourse said today after signing
an agreement in this regard.
The proposed bourse would be subject to necessary approvals and operating guidelines for
International Financial Services Centre (IFSC), NCDEX said in a statement.
The exchange said it has inked a memorandum of understanding in this regard with GIFT SEZ
Ltd, a subsidiary of Gujarat International Finance Tec-City Company Ltd (GIFTCL) known as
GIFT City.
"This MoU would help in attracting various international financial and commodity trading
players and encourage global exchanges to set up base at GIFT IFSC," GIFT City Group's Chief
Ramakant Jha said.
Speaking on the occasion, NCDEX Managing Director and CEO Samir Shah said: "This tie up
will allow Indian and global entities to deal in financial products and services from India,
making GIFT-India as one of the foremost International Financial Centres in the world."
The Gift City, inaugurated on April 10, is five minutes drive from Gandhinagar. It is intended
to be a global financial hub. It will have an international financial services centre which is a
financial sector SEZ.
The Gift City, a joint venture company, has been promoted on a 50:50 basis by the Gujarat
Urban Development Company Ltd and the Infrastructure Leasing and Financial Services
Limited (IL&FS).
Hindu Business Line
http://www.thehindubusinessline.com/news/states/ncdex-signs-mou-with-gift-city-forglobal-commodity-derivatives-exchange/article7109471.ece
NCDEX signs MoU with GIFT City for global commodity, derivatives exchange
OUR BUREAU
GANDHINAGAR, APRIL 16:
National Commodity and Derivatives Exchange (NCDEX) on Thursday announced a tie up
with Gujarat International Finance Tec City (GIFT City) here for setting up an International
Commodity and Derivatives Exchange
NCDEX said it intends to establish this exchange in GIFT SEZ area, a multi-services Special
Economic Zone (SEZ) being developed as India’s first International Financial Services Centre
(IFSC) by GIFT SEZ Ltd. a wholly-owned subsidiary of GIFT Company Ltd (GIFTCL).
On Thursday, GIFT SEZ and NCDEX signed a Memorandum of Understanding (MoU) here for
developing the exchange to provide electronic platform for facilitating trading, clearing and
settlement of securities, commodities, interest rates, currencies, other classes of assets and
derivatives by international investors, subject to necessary approvals and operating
guidelines for IFSC.
Samir Shah, Managing Director & CEO, NCDEX, said India’s leading online commodity
exchange wanted to tap the global commodities market by setting up an international
exchange that would allow Indian and international entities to deal in financial products and
services from India, making the country one of the foremost international financial centres in
the world.
Ramakant Jha, MD & Group CEO, GIFT City said, with the operating guidelines being issued
by the Union Finance Ministry and other regulators for IFSC, GIFT aimed to emerge as equal
or above par with other globally-benchmarked financial centres. This MoU would help in
attracting various international financial and commodity trading focused players and
encourage global exchanges to set up base at GIFT IFSC.
GIFT SEZ has been notified by the Government as India’s first IFSC. Recently, Finance Minster
Arun Jaitley had unveiled regulatory norms for IFSC in India at a conference held at GIFT City.
Heads of foreign and Indian banks, insurance companies, asset management companies,
consultancy firms, major brokerage firms, stock exchanges, private equity players as well as
other players from and related to the BFSI space from India and abroad participated in that
event.
Senior officials from Reserve Bank of India (RBI), Securities and Exchange Board of India
(SEBI) and Insurance Regulatory and Development Authority of India (IRDA) had also
announced their respective regulations at this conference.
Jaitley had said that, through GIFT City, Gujarat had done pioneering work to create a a
global smart city in India and this IFSC will become a landmark for the country, being at at
par with international financial centres like Dubai, Singapore and Hong Kong.
GIFT City is expected to create 5 lakh direct and an equal number of indirect jobs which
would require 62 million square feet of commercial, residential and social facilities with total
investment of about Rs. 78,000 crore over the next 10 years.
Mint
http://www.livemint.com/Money/5ZvUZtFHPBSl9nDEda4FXL/NCDEX-plans-to-set-upexchange-in-GIFT-City.html
HOME» MONEY
NCDEX plans to set up exchange in GIFT City
An agreement was signed between GIFT SEZ and NCDEX on Thursday at Gandhinagar,
according to a joint media statement
Staff Writer
Ahmedabad: National Commodity & Derivatives Exchange Ltd (NCDEX), India’s leading online
commodity exchange, said it will set up an international commodity and derivatives
exchange in the special economic zone (SEZ) area being developed at the country’s first
International Financial Services Centre (IFSC) by Gujarat International Finance Tec-City Co.
Ltd (GIFTCL) known as GIFT City.
An agreement was signed between GIFT SEZ and NCDEX on Thursday at Gandhinagar,
according to a joint media statement.
“This tie-up will allow Indian and international entities to deal in financial products and
services from India, making GIFT-India as one of the foremost International Financial Centres
in the world,” according to Samir Shah, managing director of NCDEX.
The commodity bourse intends to develop an international standard commodity and
derivatives exchange providing electronic platform for facilitating trading, clearing and
settlement of securities, commodities, interest rates, currencies, other classes of assets and
derivatives by international investors in GIFT SEZ, the statement said. This is however subject
to necessary approvals and operating guidelines for International Financial Services Centre.
Of the 880 acres allotted to GIFT City by the state government, the SEZ, spread over 250
acres, has been notified as an International Financial Services Centre by the government of
India.
Earlier this month, finance minister Arun Jaitley had released the regulatory norms for
International Financial Services Centre (IFSC) in India at a conference on ‘Regulatory
Framework for IFSC in India’ in Gandhinagar.
Senior officials from the Reserve Bank of India (RBI), Securities and Exchange Board of India
(Sebi) and Insurance Regulatory and Development Authority of India (IRDA) announced
respective regulations at this conference.
Jaitley had said that through GIFT City, Gujarat has done pioneering work to create a Global
Smart City in India and the IFSC at GIFT City will become a landmark for the country.
India’s first IFSC will be on par with international financial centres like Dubai, Singapore and
Hong Kong.
In February, National Stock Exchange of India Ltd announced the creation of an international
exchange in GIFT. The bourse followed BSE Ltd, which in January signed a similar deal with
GIFT that entails an investment of Rs.150 crore.
Kotak Mahindra Bank Ltd on Friday signed an agreement to set up an offshore banking unit
in GIFT City.
Business Standard
http://www.business-standard.com/article/markets/ncdex-to-set-up-global-exchange-atgift-city-115041600882_1.html
NCDEX to set up global exchange at GIFT City
GIFT City is being developed as a multi-services Special Economic Zone
BS Reporter | Mumbai April 16, 2015 Last Updated at 20:59 IST
National Commodity and Derivatives Exchange Ltd. (NCDEX) is planning to establish an
international commodity and derivatives exchange at the International Financial Services
Centre (IFSC) in GIFT city in Gandhinagar. GIFT SEZ and NCDEX signed the Memorandum of
Understanding (MoU) on Thursday.
NCDEX intends to develop an international standard commodity and derivatives exchange
providing electronic platform for facilitating trading, clearing and settlement of securities,
commodities, interest rates, currencies, other classes of assets and derivatives by global
investors in IFSC in GIFT City subject to necessary approvals and operating guidelines for the
International Financial Services Centre.
Samir Shah, managing director and CEO of NCDEX said, “NCDEX wishes to tap the global
commodities market by setting up an international exchange at India’s first IFSC in GIFT City.”
He further added that this tie-up will allow Indian and international entities to deal in
financial products and services from India, making GIFT as one of the foremost International
Financial Centres in the world.
Investment and starting time is yet to be decided by the company as MoU has been just
signed, a company official replied on mail.
“We welcome NCDEX at GIFT City to establish an international commodity and derivatives
exchange. This MoU would help in attracting various international financial and commodity
trading focused players and encourage global exchanges to set up base at GIFT IFSC,” said
Ramakant Jha, managing director and group CEO, GIFT City.
GIFT SEZ has been notified as an International Financial Services Centre by Government of
India as India’s first International Financial Services Centre.
Jha said, “With the operating guidelines being issued by MoF, GoI and other regulators for
IFSC, our aim is to make GIFT at or above par with other globally benchmarked financial
centres.”
Gujarat International Finance Tec-City (GIFT City) is India’s first global financial hub. Part of
GIFT City is notified as multi-service SEZ with International Financial Service Centre (IFSC)
status which is catering to India's large financial services potential by offering global firms,
world-class infrastructure and facilities.
It is estimated that GIFT would provide 500,000 direct and an equal number of indirect jobs
which would require 62 million square feet of commercial, residential and social facilities
with total investment of about Rs 78000 crore over next 10 years.
Financial Express
http://www.financialexpress.com/article/markets/commodities/ncdex-to-set-upcommodity-exchange-in-gift/64342/
NCDEX to set up commodity exchange in GIFT
By: fe Bureau | Ahmadabad | April 16, 2015 11:05 pm
Within a week of unveiling of regulatory norms for International Financial Services Centre in
India, National Commodity and Derivatives Exchange on Thursday signed an MoU with GIFT
SEZ for setting up an International Commodity and Derivatives Exchange at Gandhinagar.
NCDEX said it intends to establish the international exchange in the GIFT SEZ area, a multiservices special economic zone being developed as India’s first International Financial
Services Centre (IFSC) by GIFT SEZ Ltd, a wholly-owned subsidiary of Gujarat International
Finance Tec-City Company (GIFTCL) known as GIFT City.
NCDEX intends to develop an international standard commodity and derivatives exchange
providing electronic platform for facilitating trading, clearing and settlement of securities,
commodities, interest rates, currencies, other classes of assets and derivatives by global
investors in GIFT City subject to necessary approvals and operating guidelines for IFSC.
Samir Shah, MD & CEO, NCDEX, said, “NCDEX wishes to tap the global commodities market
by setting up an international exchange at India’s first IFSC in GIFT City. This tie up will allow
Indian and international entities to deal in financial products and services from India, making
GIFT-India as one of the foremost international financial centres in the world.”
Commodity Online
http://www.commodityonline.com/news/ncdex-to-set-up-international-commodity-bourseat-gift-sez-62198-3-62199.html
NCDEX to set up international commodity bourse at GIFT SEZ
16 Apr 2015
Commodity Online
National Commodity & Derivatives Exchange Ltd. (NCDEX) is planning to set up an
International Commodity and Derivatives Exchange in GIFT SEZ area.
GIFT is a multi-services Special Economic Zone (SEZ) being developed as India’s first
International Financial Services Centre (IFSC) by GIFT SEZ Ltd. a wholly-owned subsidiary of
Gujarat International Finance Tec-City Company Ltd (GIFTCL) known as GIFT City.
GIFT SEZ and NCDEX signed the Memorandum of Understanding (MoU) today at
Gandhinagar. NCDEX plans to develop an International standard Commodity and Derivatives
Exchange providing electronic platform for facilitating trading, clearing and settlement of
securities, commodities, interest rates, currencies, other classes of assets and derivatives by
international investors in GIFT SEZ-IFSC in GIFT City subject to necessary approvals and
operating guidelines for International Financial Services Centre.
Samir Shah, MD & CEO, NCDEX said, “NCDEX, India’s leading online commodity exchange,
wishes to tap the global commodities market by setting up an International Exchange at
India’s first IFSC in GIFT City. This tie up will allow Indian and international entities to deal in
financial products and services from India, making GIFT-India as one of the foremost
International Financial Centres in the world.”
Ramakant Jha, MD & Group CEO, GIFT City said, “We welcome NCDEX at GIFT City to
establish an International Commodity and Derivatives Exchange. With the operating
guidelines being issued by MoF, GoI and other regulators for IFSC, our aim is to make GIFT at
or above par with other globally benchmarked financial centres. This MoU would help in
attracting various international financial and commodity trading focused players and
encourage global exchanges to set up base at GIFT IFSC.”
GIFT SEZ has been notified as an International Financial Services Centre by Government of
India as India’s first International Financial Services Centre.