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sgx: NSE, Singapore bourse team up to launch trading in GIFT City – Times of India

MUMBAI: A little over three years after leading Indian bourses had threatened to cut ties with Singapore Stock Exchange, the National Stock Exchange (NSE) on Friday signed a deal with SGX that will enable global investors to trade all derivative contracts based on NSE’s products at Gujarat’s GIFT City. Once the link between the two bourses stabilises, popular derivative contracts like SGX Nifty and products based on NSE’s other indices could be traded on the new platform that will be run by SGX India Connect IFSC, the joint venture company.
The new trading platform will also allow global investors to trade in derivative products based on Indian stocks and indices from early morning (for investors in Japan) till late in the night (for those investors residing in the US), officials said.
In early 2018, prodded by the markets regulator Sebi, Indian bourses had decided to not allow trading in derivative products based on Indian stocks and indices since it was feared that allowing such trading would take away global investors from Indian bourses to foreign bourses. The new arrangement between NSE and SGX will allow global investors to trade in derivative products based on Indian stocks and indices on a platform that is under India’s jurisdiction.
During the day, SGX India Connect IFSC also opened its office in GIFT City and announced that it would launch GIFT Data Connect. Through this connectivity, global investors will get real-time access to Nifty’s trading data, a release from the NSE said. The opening up of the new office and the data connection will enable global investors to use live NSE data to fine-tune their trading strategies ahead of the formal launch in a few months, an official said.


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