Singapore Exchange Opens Office in Gift City, NSE-SGX Connect May Launch in January

The Gift Data Connect enables the international members of SGX to access real-time trading data of Nifty contracts through their derivatives trading platform, giving investors insight into the Indian stock market. Full operation of the NSE – IFSC SGX connect in GIFT city is expected to begin around the Vibrant Gujarat Summit which is likely to be held in January 2022.

SGX said the National Stock Exchange of India (NSE) in India has helped to facilitate the establishment of the exchange in Gift City.

“Through Gift Data Connect, global investors can keep a finger on the pulse of the Indian stock market, with real-time access to useful trading data and unparalleled insights into one of the world’s most exciting opportunities. This innovative link will bring our capital markets together with greater confidence and efficiency,” an official statement said.

Vikram Limaye, managing director and chief executive officer, NSE said the launch of the Market Data Connect has brought a step closer to operationalizing the NSEIFSC SGX Connect on Gift IFSC. “With this Market Data Connect, the SGX members can read the price data of Nifty derivatives products at NSEIFSC in real time, which will help them fine-tune their trading strategies in preparation for the connection to go live,” he said.

Limaye said teams are working closely together to set up the Connect infrastructure to ensure a smooth transition from Nifty derivatives trading to NSEIFSC. “In this endeavor, we are partnering with SGX and NSEIFSC members and international participants for seamless trade access in Gift City.

“With mutual growth and liquidity as our focus, we work together to serve market participants around the world and create value for our customers. We are delighted that Gift City, India’s first IFSC, shares our ambition to drive capital flows and economic growth. GIFT City has taken many initiatives to establish itself as a regional hub for international financial services and a leading gateway for global capital flows to and from India,” said Loh Boon Chye, CEO of SGX.