This was on account of profit booking by LIC, mutual funds as also retail and HNI investors with markets reaching all-time highs.
The Singapore Exchange on Tuesday said NSE IFSC-SGX Connect at International Financial Service Center in GIFT City will become operational on July 3 after the transition of SGX Nifty derivatives to NSE IFSC. The move will enable investors to trade in dollar-denominated Nifty futures contracts available on the SGX in Gujarat International Finance Tec-City or GIFT City. Also, investors would have real-time access to NSE IFSC market data. NSE IFSC, a wholly-owned subsidiary of NSE, is an exchange at IFSC in GIFT City, Gujarat. "Full-scale operation of the NSE IFSC-SGX Connect (Connect) with the transition of SGX Nifty derivatives to NSE IFSC will take place on July 3, 2023. Following the transition, all US dollar-denominated Nifty derivatives contracts will be exclusively traded on NSE IFSC," the Singapore bourse informed its trading members in a circular. In preparation for the transition for SGX members to trade on the NSE IFSC-SGX Connect, the bourse said it will perform a liquidit
The collaboration, launched in July earlier this year, would enable orders from the SGX members to be routed to NSE IFSC for trading
Nifty derivatives contracts are among the most traded on the SGX
New arrangement may become operational by end-2020 after Finance Ministry nod
Regulators have asked stock exchanges to find a commercial solution feasible to both
Arbitrator asks SGX not to launch its disputed products until the final decision