Summary:
Ahmedabad, Oct 22 (PTI) Singapore Exchange (SGX) on Friday announced the opening of its offshore office in India at the international financial services centre (IFSC) at GIFT City.
In his virtual address, SGX Chief Executive Officer Loh Boon Chye also announced the launch of "GIFT Data Connect", which will allow the SGX"s international members to access real-time trading data of "Nifty contracts via our derivatives trading platform, giving investors unrivalled insights into India"s equity market", according to an official statement.
Besides, the trading link between SGX and the National Stock Exchange (NSE) in GIFT City, better known as the NSE-IFSC SGX Connect, might get operational early next year.
Incorporating international best practices, the NSE-IFSC SGX Connect will facilitate investor access and enhance capital flows with Nifty at its heart, he added.
The NSE IFSC-SGX Connect aims to bring together the trading of Nifty products to GIFT City and create a larger pool of liquidity, comprising international and home market participants.
In his opening remarks during the launch, National Stock Exchange MD and CEO Vikram Limaye said the NSE along with SGX is committed to having a unified order book in NIFTY products at GIFT City at the earliest.