Home >News >India >India's NSE, Singapore's SGX finalise derivatives tie-up
NSE had an agreement with SGX that authorized the latter to allow trading in derivatives such as index options and index futures benchmarked to Nifty 50, Nifty Bank, Nifty IT, Nifty CPSE and Nifty Midcap 50 indices.aniruddha chowdhury/mint
NSE had an agreement with SGX that authorized the latter to allow trading in derivatives such as index options and index futures benchmarked to Nifty 50, Nifty Bank, Nifty IT, Nifty CPSE and Nifty Midcap 50 indices.aniruddha chowdhury/mint

India's NSE, Singapore's SGX finalise derivatives tie-up

  • India has been trying to lure foreign investors to the city that offers close to zero tax, dollar contracts, and top-notch infrastructure.
  • NSE and SGX had been locked in a dispute since 2018 after NSE sought to block SGX's launch of a set of new Indian derivatives products

BENGALURU : India's National Stock Exchange (NSE) and Singapore Exchange Ltd (SGX) have finalised a derivatives tie-up and ended arbitration proceedings relating to a 2018 dispute on SGX's launch of an index derivative, the bourses said on Tuesday.

The tie-up aims to bring trading of the SGX's Nifty futures contract, based on the NSE's blue-chip Nifty 50 index, to GIFT City, an international financial centre in western India. The bourses last year received regulatory approval for the collaboration, which had been under discussion for months.

The exchanges said the deal aims to create a larger pool of liquidity for Nifty products, as well as boost activity at the 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.

"The connect 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.

NSE and SGX had been locked in a dispute since 2018 after NSE sought to block SGX's launch of a set of new Indian derivatives products on grounds that the offerings infringed its intellectual property rights.

This story has been published from a wire agency feed without modifications to the text.

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