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Facebook, Amazon, Apple, Netflix and Google are among largest listed companies in United States
NSE International Exchange (NSE IFSC), a wholly owned subsidiary of NSE, will soon allow Indian-based investors to trade in select US stocks, making Wall Street-listed stocks “affordable to Indian retail investors.” This move is significant in the backdrop of the growing interest in US listed stocks, especially those of tech giants such as Facebook, Amazon, Apple, Netflix and Google. NSE IFSC will announce the operational details shortly and launch the product soon, NSE International Exchange said in a press release.
Vikram Limaye, MD & CEO, NSE said, “This will be an innovative product, and one of the key milestones for NSE IFSC that will expand the product coverage of the Exchange beyond existing clientele. With the guidance of IFSC authority and the support of all the key stakeholders involved, we hope to operationalize this product soon.”
A prospective investor will have to open an account with a broker registered with NSE IFSC in GIFT City, complete the mandatory KYC process and thereafter remit funds up to $2,50,000 in a given financial year.
“Investors will be provided with an option to trade in fractional quantity / value when compared to the underlying shares traded in US markets,” NSE International Exchange added.
Facebook, Amazon, Apple, Netflix and Google, collectively known as ‘FAANG’ stocks, are among the largest listed and most popular companies in the United States. Apple is the largest company in United States in terms of market capitalisation. While Google (now Alphabet), Amazon and Facebook count among the top five tech companies.
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