India's benchmark stock index Nifty 50 based futures was launched on Monday on the Taiwan Futures Exchange (TAIFEX).

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. It tracks the Nifty 50 index, an equity index comprising securities listed on India's largest stock exchange, the National Stock Exchange (NSE).

TAIFEX Nifty 50 futures provide market participants more efficient access to the Indian capital markets. It is TWD 50 per index in contract size, and will trade from 8.45 am to 6.15 pm Taiwan time, covering the entire trading session of the Indian market.

Chitra Ramkrishna, Chairperson IISL and Managing Director & CEO, NSE, said: "Nifty 50 represents one of the fastest growing economy in the world. It's an inevitable choice for global investors who want to invest in India. Going forward investors from Taiwan can take a view on top 50 Indian companies representing multiple sectors in India by investing in TAIFEX Nifty 50 futures.''

Len-Yu Liu, Chairman of TAIFEX, said India was one of the major Asian markets for trading futures and options, and the collaboration with NSE was a strategic move for TAIFEX to enhance "our global presence, which in turn will benefit both our foreign and domestic clients".

NSE and TAIFEX will work hand-in-hand for investor education and global market promotion to attract more potential investors in joining the market. Both exchanges believe that this project will further the business alliance and pave the way for future cooperation.

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