The National Stock Exchange (NSE) is hopeful of consolidating trading volume at its subsidiary NSE IFSC Exchange in Gujarat's GIFT City in the long term even as it awaits the outcome of offshore derivative tussle with the Singapore Exchange, a top official has said.
However, NSE received a temporary setback in the case this weekend after a court-appointed arbitrator had allowed the SGX (Singapore Exchange) to continue listing and trading of SGX Nifty contracts beyond August 2018 for at least two successive contract month maturations beyond the arbitration's completion date.
"Let's wait for the outcome of SGX case as they hold lot of offshore funds," NSE managing director & CEO Vikram Limaye told PTI.
On consolidation of offshore derivative volumes for Nifty futures in the ujarat International Finance Tec-City (GIFT City), he said, "We have received Commodities Futures Trading Commission (CFTC) nod for NSE and in few months we will get nod for NSE IFSC in GIFT City."
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