SGX, India bourse operator agree to work together on Nifty futures contracts

THE Singapore Exchange (SGX) and India's National Stock Exchange (NSE) have inked a formal agreement over their planned new trading model for Nifty futures contracts.

They have now agreed to work out key terms for the NSE International Financial Service Centre (IFSC)-SGX Connect, which will see Nifty futures contracts on the SGX executed in the Gujarat International Finance Tec-City (Gift City).

The deal, announced by the two bourses in a joint statement on Tuesday, marks headway in talks over Nifty trading, after India's main stock exchanges decided in early 2018 to stop licensing their securities or sharing data with foreign exchanges.