Investors in the Indian market will soon be able to have a closer sense of the pulse of the Indian equity market.
This is as the Singapore Exchange (SGX) announces the inauguration of SGX India Connect IFSC, an international financial services centre in Gujarat International Finance Tec-City (GIFT City).
The IFSC is a special purpose vehicle that will enable the trading and clearing of Nifty products under GIFT Connect.
Nifty refers to the National Stock Exchange Fifty, the equity benchmark index of India’s National Stock Exchange.
SGX says it also intends to launch Gift Data Connect, which will provide SGX's international members “with real-time access to Nifty trading data and unrivalled insights into one of the world’s most exciting opportunities” in the Indian market.
The two bourses have “mutual growth and liquidity as our focus”, and through this collaboration, they add that they are working together to serve market participants around the world and create value for customers.
“Incorporating international best practices, the NSE IFSC-SGX Connect will facilitate investor access and enhance capital flows with Nifty at its heart,” SGX says.
