Tuesday June 20 2023
News Source: Global Exchanges
Focus: General - Global Exchanges
Type: General
Country: India
NSE International Exchange (NSE IX) unveiled a new and refreshed brand identity of GIFT Nifty as a part of full-scale transition of SGX Nifty to Gift Nifty from July 3rd, 2023. The new identity of Gift Nifty signifies the unique opportunity and new direction for the international investors to participate in India’s growth story to access Nifty products through NSE IX at GIFT City. The new look of Gift Nifty is aligned with the flagship index NIFTY 50, which reflects the growth story of Indian equity markets.
The unveiling of the new logo follows the recent announcement of full-scale operations of NSE IX-SGX Connect to start from July 3rd, 2023. This strategic initiative between NSE IX and SGX, enables Gift Nifty orders from SGX members to be routed to NSE IFSC for trading and execution with clearing and settlement through SGX Derivatives Clearing.
To begin with, market participants can access Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services and Gift Nifty IT derivative contracts on NSE IX and gradually other indices will be rolled out under Gift Nifty suite. These contracts are accessible for almost 21 hours, which overlaps Asia, Europe, and US trading hours. Gift Nifty offers a single pool of liquidity and venue to access USD denominated Nifty derivatives at NSE IX under the regulatory framework of International Financial Services Center Authority (IFSCA).
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