Nifty 50 Futures, an index to track the futures price movement on benchmark Nifty 50, today got listed on the Taiwan Futures Exchange (TAIFEX), a move that will provide investors with more efficient access to the Indian capital market.
In June, India Index Services and Products Ltd (IISL), an arm of NSE, launched Nifty 50 futures and said it plans to list for investors in Taiwan. The index is maintained by IISL.
"TAIFEX Nifty 50 futures is a New Taiwan Dollar (TWD) denominated contract and the first Indian equity index futures product to be introduced in Taiwan," NSE said in a release.
The Nifty 50 futures index reflects futures price movement in the benchmark equity index Nifty 50 which comprises securities listed on NSE. It is one of the most widely-used index to track the performance of the Indian stock market.
"It's an inevitable choice for global investors who want to invest in India. Going forward, investors from Taiwan can take a view on the top 50 Indian companies representing multiple sectors in India by investing in TAIFEX Nifty 50 futures," NSE Managing Director and CEO Chitra Ramkrishna said.
TAIFEX chairman Len-Yu Liu said: "We are very much delighted to work with NSE, and TAIFEX will continue our initiatives towards building co-operation between Taiwan and the global market."
The move is expected to help TAIFEX, which has entered into a licensing agreement with IISL, expand its product line as well as increase its international exposure.
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