SGX Nifty Futures to start trading at GIFT City.
Nifty futures contracts on Singapore Exchange (SGX) are set to start trading at the International Financial Service Centre (IFSC) from Friday, 15th July 2022. Prime minister Narendra Modi will launch dollar-denominated Nifty futures and inaugurate the India International Bullion Exchange on Friday.
SGX Nifty will trade simultaneously in GIFT City and Singapore initially, before discontinuing in Singapore. SGX Nifty will reportedly trade at GIFT City for close to 19 hours a day.
Nifty derivatives contracts on the SGX are among the most traded ones. They are used by global investors to hedge their exposure to India.
