This collaboration is significant given it is the first cross-border initiative in connecting India and Singapore's capital markets.
Risk hedging products related to the Indian infrastructure development, green initiatives, ESG as well as new energy minerals and metals are some of the areas SGX Group wants to focus on, Chin said.
The transition of trading of SGX Nifty to NSE IFSC through the Connect was expected to take place shortly after the operations begin, with dollar-denominated Nifty contracts to be exclusively traded on the NSE IFSC, the exchange operators said.
Prime Minister Narendra Modi will visit Gujarat International Finance Tec-City (GIFT City), India's maiden International Financial Services Centre (IFSC), on July 29.
Apart from structural issues, Dubai and Singapore markets are preferred because they operate for 17 hours as compared to eight hours in India
GIFT is Prime Minister Narendra Modi’s pet project, his “gift" to Gujarat that aims to relocate some of Mumbai’s financial sector activity to Gandhinagar.
It is only when financial activity crosses a certain threshold can one expect talent to settle in this new centre. It will be this talent that will drive future activity and make it a virtuous circle of financial development.
The NSE and SGX said they have received all approvals from their respective regulators to launch NSE IFSC-SGX Connect
The two exchanges started a discussion on launching a joint venture after the NSE, along with BSE and MSEI, in February 2018 announced that they would stop sharing data feeds with the SGX
Both the exchanges have jointly proposed to their regulators a possibility of using the NSE–International Financial Services Centre-SGX connect model as the way forward.
NSE is actively working with investors to encourage them to trade in GIFT City
The restraint would be till three weeks after the arbitration process is completed even as the tribunal allowed continuation of existing SGX-Nifty contracts.
Morgan Stanley Capital International, which is one of the biggest index compilers with nearly $9 trillion riding on indices it generates, is trying to lean on countries like India for market access.
The SGX on Tuesday said they will list new Indian derivatives on their exchange in June, as originally scheduled
The Singapore-based exchange also said that it has communicated to NSE that India needs to maintain liquidity in its offshore equity derivatives market.
Indian markets are likely to take back some of their losses clocked yesterday at open, as global equities rose thanks to risk-on sentiment.
Asia markets are positive after several weekend polls showed the remain camp regained momentum ahead of a referendum vote to decide the UK's future within the European Union (EU). The Britons will vote to decide if the UK should leave or stay within the 28-member EU trade bloc on June 28.
Indian stocks are expected to open in the green, after a bounceback in crude prices sent global shares rising.
Indian shares may open lower Tuesday, following weakness in Wall Street overnight, after oil prices fell to a seven-year low, sparking worries of the health of the global economy.
Speaking to CNBC-TV18, Michael Syn, President of SGX said that 80 percent of India‘s offshore bonds are listed in Singapore and he is looking forward to the upcoming masala bond listing.
Indian equities are set to start off on a weak note, a day after they plunged in a late move that saw a 2 percent cut on benchmark indexes.
This morning cues are quite good for the market at least the global cues and the SGX is indicating that we will have a gap-up but foreign institutional investors (FIIs) have been selling.
The market this morning is likely to open flat as the SGX is also indicating but more importantly interesting thing is that the Nifty over the last few days has clearly indicated that it is not willing to go higher than 6,350-6,400. Anuj Singhal of CNBC-TV18 gives details in his pre-market update.
Today the global cues are absolutely flat and even the SGX is indicating that we will have a flat start. However, what is going to dampen sentiment, a bit, is what happened with the foreign institutional investor (FII) number yesterday. Here‘s Anuj Singhal of CNBC-TV18 with his pre-market update.
In an interview to CNBC-TV18 technical analyst, Sudarshan Sukhani of s2analytics.com shared his reading and outlook on the market.