TCS to power NSE IFSC-SGX Connect at Gift City, phase-1 goes live in April

Once the Gift Connect gets operational, SGX investors dealing in Nifty contracts will have to carry out their investment at NSE IFSC

The NSE IFSC-SGX Connect at Gift City IFSC will be powered by Tata Consultancy Services (TCS).

The first phase of the proposed initiative between the National Stock Exchange (NSE) and Singapore Exchange (SGX) will go live in April, while it will become fully operational in another three to four months.

“TCS BaNCS has been selected by SGX to power the NSE IFSC-SGX Connect , its program to connect to NSE IFSC for trade execution and clearing of Nifty products on behalf of its members in Singapore and globally,” TCS said in a release.

Nifty derivatives contracts are one of the