India has opened up to foreign traders

D

dakoo

http://www.thestar.com/business/art...-foreign-investors-access-to-its-stock-market

Previously only indians could trade NSE stuff. I have just checked it out. Thousands of contracts on the inside spread and seems to move more like Hang seng

The IB symbol is nifty50 and market data is free for level 2. If I have understood the contract specs perfectly today's move on a single contract equals 50 Dollars. I have to check whether it is highly correlated with EURUSD or not.
 
Quote from slumdog:

The entire move (ie the range) is 50 dollars per contract?

How many dollars is 1 tick?

How much is the commission per contract?
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the tick is 0.05 indian rupees. While a single contract move today was worth 50 dollars approx there were close to 5000 contracts on both sides. I checked it today for the first time. IB's commission on it is 0.03%
 
Quote from dakoo:

http://www.thestar.com/business/art...-foreign-investors-access-to-its-stock-market

Previously only indians could trade NSE stuff. I have just checked it out. Thousands of contracts on the inside spread and seems to move more like Hang seng

The IB symbol is nifty50 and market data is free for level 2. If I have understood the contract specs perfectly today's move on a single contract equals 50 Dollars. I have to check whether it is highly correlated with EURUSD or not.
More...

are you sure that US residents can trade India via IB?

http://www.elitetrader.com/vb/showt...233944&perpage=6&highlight=india&pagenumber=2

http://www.interactivebrokers.com/en/general/communiques/2011/01-21-11.php?ib_entity=llc

---Indian residents can now short stock (currently Nifty 50 stocks are available) on an intra-day basis.---

---Trading in India is restricted to Indian residents.---
 
Quote from Bob111:

are you sure that US residents can trade India via IB?

http://www.elitetrader.com/vb/showt...233944&perpage=6&highlight=india&pagenumber=2

http://www.interactivebrokers.com/en/general/communiques/2011/01-21-11.php?ib_entity=llc

---Indian residents can now short stock (currently Nifty 50 stocks are available) on an intra-day basis.---

---Trading in India is restricted to Indian residents.---
More...


check the news item link on the first post. Starting JAN 15 foreigners can trade indian markets, not just indians. As to whether your US regulators allow the contract, i wouldn't know. but the restriction from the indian side is over.
 
Quote from dakoo:

check the news item link on the first post. Starting JAN 15 foreigners can trade indian markets, not just indians. As to whether your US regulators allow the contract, i wouldn't know. but the restriction from the indian side is over.
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if you follow the ET link i've posted above -you might find out that we know this long time ago.. the problem is-IB(interactive broker), as far as i know(read another link) does not offer access to indian market for non indian residents. at least for now. are saying that this is not true and and you can trade india via IB? or i'm missing something here?
 
Just to clarify, you can be an NRI (Non Resident Indian) and trade the India markets through IB.

NRI

NRIs are defined in the Indian Foreign Exchange Management Act of 1999 and the Indian Foreign Exchange Management Deposit Regulations of 2000.

In short, to qualify for NRI status you must:

a. Reside outside of India for more than 182 days per year, and;

b. Hold Indian citizenship, or;

c. Be a Person of Indian Origin as defined in the Indian Foreign Exchange Management Deposit Regulations of 2000.
 
It's also important to point out Non Indians can trade the Nifty on the SGX. The futures contract, being a basket of Indian Stocks, was up 30% in trading volume last year and 70% over the last two years. It's a great way to access the market for Non Indians and for Indian Residents and NRIs, IB's global offering allows you to trade the contacts side by side comparing transaction cost not just price.
 
http://seekingalpha.com/article/829631-how-can-americans-invest-in-indian-stocks?source=feed

Who is a QFI?

QFIs can be individuals, groups or associations based outside India. QFIs can invest in Indian Mutual Fund schemes and directly in the Indian stock market.

The individuals, groups or associations should be resident of a country that is a member of the Financial Action Task Force (FATF, of which the USA is a member) or a country that is a member of a group which is a member of FATF. QFIs should also be residents in a country that is a signatory to IOSCO's MMOU or a signatory of bilateral MOU with Securities and Exchange Board of India (SEBI).

For more information on QFIs click here. This document provides every detail you need to know to begin investing directly in the Indian stock market.
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And the SGX contract is US Dollar denominated. A big edge.

Quote from IB Salvatore:

It's also important to point out Non Indians can trade the Nifty on the SGX. The futures contract, being a basket of Indian Stocks, was up 30% in trading volume last year and 70% over the last two years. It's a great way to access the market for Non Indians and for Indian Residents and NRIs, IB's global offering allows you to trade the contacts side by side comparing transaction cost not just price.
More...
 
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