The transition of buying and selling of SGX Nifty to NSE IFSC by the Join was anticipated to happen shortly after the operations start, with dollar-denominated Nifty contracts to be completely traded on the NSE IFSC, the trade operators stated.
The collaboration, launched in July earlier this yr, would allow orders from the SGX members to be routed to NSE IFSC for buying and selling and execution with clearing and settlement by SGX Derivatives Clearing, they stated in an announcement, including that up to now 14 SGX Clearing members have been onboarded.
“This shall be a key milestone in our partnership of greater than 22 years with SGX Group to consolidate liquidity in Nifty contracts at NSE IFSC,” NSE Chief Govt Ashishkumar Chauhan stated within the assertion.