In a little more than a week from now, the Singapore Exchange’s SGX Nifty, a derivative of India’s National Stock Exchange’s (NSE) Nifty index, begins a new chapter by being traded on an NSE subsidiary in India even as it is cleared by SGX in Singapore.
From July 3, the NSE IFSC Exchange – the NSE’s unit in Gujarat International Finance Tec-City, or Gift City, a Labuan-like tax neutral financial services centre situated in Indian Prime Minister Narendra Modi’s home state – will be used for matching orders from SGX.
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