NSE IFSC-SGX Connect Inauguration
NSE IFSC – SGX Connect has been officially launched by Honorary Prime Minister of India, Shri Narendra Modi,at GIFT City Gujarat on 29th July 2022.
National Stock Exchange of India Ltd. (NSE) and Singapore Exchange (SGX Group) announced
today that the NSE IFSC-SGX Connect is live and ready to trade Nifty equity derivatives for global institutions, a major step towards further connecting the world’s investors to India.
Through SGX Group’s unique trading infrastructure in GIFT City, investors in
India and around the world can now trade Nifty contracts listed on NSE IFSC seamlessly and
efficiently with global risk-management and clearing standards. Investors also have real-time access to NSE IFSC market data.
About NSE IFSC
NSE IFSC is a wholly owned subsidiary of NSE. The trading at NSE IFSC Limited was launched
on June 5, 2017 post receiving grant of recognition from SEBI. NSE IFSC has already
launched trading in Indian and global stock derivatives, index derivatives, currency
derivatives, depository receipts and non-agriculture commodity derivatives. SEBI & IFSC
Authority have also permitted trading in a wide range of products including equity shares of
companies incorporated outside of India, debt securities of eligible issuers, interest rate
derivatives and all categories of exchange traded products that are available on stock
exchanges in FATF/IOSCO compliant jurisdictions.
In addition, the regulator has allowed FPIs to trade in commodity derivatives in GIFT IFSC. NSE IFSC is the only exchange in GIFT
City to be part 30 exempted by Commodity Futures Trading Commission (CFTC). For more
information, please visit www.nseifsc.com.
About Singapore Exchange (SGX Group)
We are Asia’s leading and trusted securities and derivatives market infrastructure, operating
equity, fixed income, currency and commodity markets to the highest regulatory standards.
We also operate a multi-asset sustainability platform, SGX FIRST or Future in Reshaping
Sustainability Together (sgx.com/first).
We are committed to facilitating economic growth in a sustainable manner leveraging our
roles as a key player in the ecosystem, a business, regulator and listed company. With climate action as a key priority, we aim to be a leading sustainable and transition financing and trading
hub offering trusted, quality, end-to-end products and solutions. As Asia’s most international,
multi-asset exchange, we provide listing, trading, clearing, settlement, depository and data
services, with about 40% of listed companies and over 80% of listed bonds originating
outside of Singapore. We are the world’s most liquid international market for the benchmark
equity indices of China, India, Japan and ASEAN. In foreign exchange, we are Asia’s leading
marketplace and most comprehensive service provider for global FX over-the-counter and
futures participants. Headquartered in AAA-rated Singapore, we are globally recognised for
our risk management and clearing capabilities. For more information, please visit
www.sgx.com.
What is GIFT City?
GIFT City (Gujarat International Finance Tec-City) is situated in Gujarat in between the Business capital Ahmedabad and Gandhinagar.
It has been developed as a smart city for global IT Services and Finance. It is constructed on 886 acres of land where 62 million sq. ft. of the Built Up area will be developed with 67 per cent of commercial space, 22 per cent of residential space, and 11 per cent of social space. GIFT City has two Zones: 625 acres of land marked as Domestic Tariff Area (DTA) and 261 acres of land marked as Multiservice Special Economic Zone (SEZ).
All the rupee-denominated transactions in GIFT City are undertaken from DTA.