$7.5 billion in derivatives trading moves to India as SGX controversy ends

Derivative contracts with a notional value of about $7.5 billion traded in Singapore will be moved to GIFT City of Gujarat as the cross-border trading link between the Singapore Exchange and the NSE Nifty 50 Index, the top bourses of the two Asian countries, becomes fully operational on Monday. reports Bloomberg.

Derivative contracts with a notional value of about $7.5 billion traded in Singapore will be moved to GIFT City of Gujarat as the cross-border trading link between the Singapore Exchange and the NSE Nifty 50 Index, the top bourses of the two Asian countries, becomes fully operational on Monday. reports Bloomberg.

SGX Nifty, Singapore Exchange Ltd. traded futures contracts on India’s main stock index NSE Nifty 50 will be known as GIFT Nifty from July 3 and all outstanding orders will be transferred to GIFT City, the new financial hub of Gujarat. the report said.

SGX Nifty, Singapore Exchange Ltd. traded futures contracts on India’s main stock index NSE Nifty 50 will be known as GIFT Nifty from July 3 and all outstanding orders will be transferred to GIFT City, the new financial hub of Gujarat. the report said.

GIFT’s move from SGX to NSE’s International Stock Exchange is a sign of success in Prime Minister Narendra Modi’s administration’s attempts to attract India-centric trade that had moved to global financial centers such as Dubai, Mauritius and Singapore to its shores.

GIFT’s move from SGX to NSE’s International Stock Exchange is a sign of success in Prime Minister Narendra Modi’s administration’s attempts to attract India-centric trade that had moved to global financial centers such as Dubai, Mauritius and Singapore to its shores.

“We expect the liquidity pool to increase as all orders from Singapore will be routed to our platform, while local brokers from the IFSC can also trade,” Bloomberg reported, citing V. Balasubramaniam, chief executive officer of the national unit SIA NSE IX. Stock Exchange of India. “About $7.5 billion in interest rate contracts are being switched,” he added.

“We expect the liquidity pool to increase as all orders from Singapore will be routed to our platform, while local brokers from the IFSC can also trade,” Bloomberg reported, citing V. Balasubramaniam, chief executive officer of the national unit SIA NSE IX. Stock Exchange of India. “About $7.5 billion in interest rate contracts are being switched,” he added.

The latest move by Asia’s two top exchanges ends a five-year dispute over SGX’s plan to introduce separate stock futures trading in some of India’s biggest companies, as New Delhi seeks to develop its stock market. The dispute was settled amicably after a brief legal battle.

The latest move by Asia’s two top exchanges ends a five-year dispute over SGX’s plan to introduce separate stock futures trading in some of India’s biggest companies, as New Delhi seeks to develop its stock market. The dispute was settled amicably after a brief legal battle.

The sophisticated derivatives contracts were the second largest volume of SGX equity derivatives after SGX FTSE China A50 index futures in FY2022 and helped boost the exchange’s earnings from higher average fees and volumes.

The sophisticated derivatives contracts were the second largest volume of SGX equity derivatives after SGX FTSE China A50 index futures in FY2022 and helped boost the exchange’s earnings from higher average fees and volumes.

SGX and Nifty will split costs and revenues “roughly 50-50,” Bloomberg reported, citing Michael Syn, head of equities at SGX. Futures and options trading will take place at GIFT City, with SGX clearing, Syn added.

SGX and Nifty will split costs and revenues “roughly 50-50,” Bloomberg reported, citing Michael Syn, head of equities at SGX. Futures and options trading will take place at GIFT City, with SGX clearing, Syn added.

(Contributed by Bloomberg)

(Contributed by Bloomberg)

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