⁍ India’s National Stock Exchange (NSE) and Singapore Exchange Ltd (SGX) have finalised a derivatives tie-up.
⁍ The tie-up aims to bring trading of the SGX’s Nifty futures contract to GIFT City.
⁍ India has been trying to lure foreign investors to the city that offers close to zero tax, dollar contracts, and top-notch infrastructure.
– India’s National Stock Exchange and Singapore Exchange are teaming up to make it easier for foreign investors to invest in the country’s stock market. The two exchanges announced a deal Tuesday to bring trading of the SGX’s Nifty futures contract—based on the NSE’s blue-chip Nifty 50 index—to India’s GIFT City, an international financial center in western India, per Reuters. The agreement ends a years-long dispute between the two exchanges over SGX’s launch of an index derivative based on the NSE’s blue-chip Nifty 50 index. The deal will “broaden the international and domestic participant base and further strengthen the capital market ecosystem in GIFT city,” NSE Chief Executive Officer Vikram Limaye said in a statement.
Source: https://www.reuters.com/article/nse-sgx-giftcity/indias-nse-singapores-sgx-finalise-derivatives-tie-up-idUSL3N2GJ291