The Singapore Exchange (SGX) is looking to connect through Gujarat International Finance Tech (GIFT) City — an International Financial Service Centre (IFSC) in Gujarat — to continue with its strong India play.
The move comes after the Indian bourses, including the National Stock Exchange (NSE), terminated their licensing of indices and data-feed agreements with their foreign counterparts.
The move has hit the Singapore bourse hard as the ‘SGX Nifty’ is currently one of the most-traded contracts on its platform.
The NSE snapping ties would mean discontinuing trading in the SGX Nifty and other Indian contracts after the six-month