Google, Apple, Tesla, 5 other US stocks to start trading on NSE IFSC from today

The exchange shared the list of NSEIFSC receipts for which trading will begin on Thursday, March 03, 2022 comprising eight US stocks – Alphabet (Google), Amazon, Tesla, Meta Platform (Facebook), Microsoft, Apple, Netflix and Walmart . The offer will be in the form of unsponsored depository receipts.

It said that for the remaining NSE IFSC receipts on select US stocks including Berkshire Hathaway, Adobe, Mastercard, Johnson & Johnson, Wells Fargo, the date of commencement of trading will be communicated through a separate circular.

Investors will be able to hold depository receipts in their demat accounts opened at GIFT City and will be entitled to avail corporate action benefits relating to the underlying stock.

“This initiative is the first of its kind in IFSC where Indian retail investors will be able to transact on the NSE IFSC platform under the Liberalized Remittance Scheme (LRS) limits prescribed by the Reserve Bank of India (RBI),” the NSE IFSC circular said in August.

According to NSE IFSC, this route makes the entire process of international investment easier and less costly for Indian retail investors. Investors will be provided with the option to trade fractional volume value in comparison to the underlying shares traded on US markets, making it affordable for them.

“NSE IFSC Clearing Corporation Limited (NICCL) will offer its robust risk management framework, facilitate clearing and settlement of all trades in depository receipts and provide settlement guarantee in respect of all trades executed on the NSE IFSC platform. In addition, all trades will also be covered under the Investor Protection Framework in NSE IFSC.”