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India INX Members Can Now Access MOEX Via Sova Capital Through GIFT CITY IFSC

16 Dec 2019

The Securities and Exchange Board of India (SEBI), the regulator for the stock exchanges in GIFT IFSC has approved trading access to Moscow Exchange (MOEX) for the members of India INX (Subsidiary of BSE) via Sova Capital.

MOEX is specialized in trading derivatives on oil, gold, and other precious metals, RTS index and single stocks and various currency pairs, as well as cash equities, bonds, and FX instruments.

India INX Global Access IFSC Limited which is a wholly-owned subsidiary of BSE’s India INX has obtained regulatory approvals to provide outbound connect to all the India INX Members and their clients to access the Moscow Exchange. For this purpose, India INX GA proposes to tie up with Sova Capital a leading member of Moscow Exchange and Sova Capital also proposes to take membership of India INX to allow global investors to connect to India INX at GIFT City. This clearly demonstrates a win-win partnership for the BSE Group and Moscow Exchange Group in enabling access to each other’s market and further deepening the good ties between India and Russia.

Since 2007, Sova Capital (UK-based and FCA-regulated broker dealer) has utilized its significant balance sheet and product solutions to provide both buy-side and sell-side clients with a global offering covering execution services, prime financing, custody, stock-loan, and repo services across both emerging and developed markets.