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NSE IFSC Ltd has appointed BSO as its first official international approved connectivity partner. The partnership will provide Asian, European and American trading firms with added infrastructure solutions helping future traders gain faster, more secure access to the Indian market via BSO’s global network, said NSEI IFSC in a release on Tuesday.
NSE IFSC, NSE’s International Exchange facilitates trading in Nifty futures & options, INR-USD and other derivatives products in Asia for American and European trading firms. The exchange is seeking to sign up global connectivity partners to facilitate international trading firms, of which BSO is the first, the statement added.
“This announcement comes in the backdrop of increased demand from trading firms for connectivity into India, and in particular, GIFT City. India has seen a significant growth in its trading activity, with 8.85 billion contracts traded in 2020. As the only non-domestic official service provider to deliver connectivity into NSE IFSC at GIFT-City, BSO is perfectly positioned to meet increased market demand,” the statement further added.
Ravi Varanasi, Chief Business Development Officer and Group President, NSE, said: “We are delighted to announce BSO as one of our first International Network Carriers. BSO’s global presence across diverse markets, along with its low-latency and highly resilient connectivity service will not only provide access to NSE IFSC for market participants across the globe, but will also encourage international trading members to use this connectivity to provide trading access to their clients through the innovative Segregated Nominee Account Provider (SNAP) framework.”
Michael Ourabah, CEO of BSO, said: “The NSE IFSC is fast becoming a leading global exchange, with competitive tax structures, trading hours and increasingly impressive derivatives volume... At BSO, we pride ourselves on our uniquely engineered international network, and our connectivity partnership with the NSE IFSC marks our pledge to connect emerging markets, such as GIFT City, with established markets around the world.”
BSO is headquartered in Ireland, but has 11 offices around the world including London, New York, Paris, Dubai, Hong Kong and Singapore.
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