The foundation for the Connect was laid in August 2019 when National Stock Exchange of India and SGX Group entered into a collaboration agreement to create a unified liquidity pool for NIFTY products in GIFT City via an innovative Connect model. The Connect is expected to go live in July 2022, with the onboarding of SGX Group’s members.
Mr. Vikram Limaye, MD & CEO, NSE, said: “Today is a historic moment for NSE IFSC with the commencement of the much-awaited NSE IFSC-SGX Connect. We are committed towards developing GIFT-IFSC as India’s premier financial services centre and a gateway for global financial flows.
The NSE IFSC -SGX Connect is a strategic partnership with SGX Group in an innovative, first of its kind structure and will help develop the exchange and the capital markets ecosystem in Gift City IFSC and contribute towards fulfilling the vision of Atmanirbhar Bharat as envisaged by our Honorable Prime Minister of India. I take this opportunity to thank the Government of India, IFSC Authority, GIFT City authorities, SEBI, RBI and the government and regulatory authorities in Singapore for their guidance and support”.
Mr. Loh Boon Chye, CEO, SGX Group, said: “SGX Group is excited to see the NSE IFSC-SGX GIFT Connect reach another milestone with this commencement. We look forward to working closely with NSE to start the onboarding of our members to the Connect in July.”
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