GIFT Nifty: SGX Nifty Becomes GIFT Nifty From Today, SGX Nifty Will Be Delisted – Know What Will Be The Changes | SGX Nifty will become GIFT Nifty from today, SGX Nifty will be delisted

Gift Nifty: Singapore Stock Exchange and SGX Nifty saw a change from today. SGX Nifty will be known as GIFT Nifty from today to get a true picture of Indian stock markets and their opening. After its rebranding, this tradition of referring to the SGX Nifty has ended.

All derivative contracts have been transferred to Gift City, India

From today, GIFT Nifty will be the new indicator for Indian market instead of SGX Nifty. All derivative contracts worth $7.5 billion, which were earlier traded in Singapore, will be transferred to India’s GIFT City from today. As part of this rebranding exercise, a formal agreement will be entered into between the Singapore Stock Exchange and NSE International Financial Services Centre, a wholly owned subsidiary of NSE, and all new trades under this agreement will be transferred to GIFT Nifty.

The trade will be done in two trading sessions

There will be two trading sessions under GIFT Nifty trade starting today. The first Indian time will run from 6.30 am to 3.40 pm. The second trading session will run from 5 pm to 2.45 pm.

Trading in Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services and Gift Nifty will be available for trading from today. With this, many changes are happening in Nifty trading, which you can know here-

First of allSGX All traders residing in Singapore now under Nifty GIFT Will shift to Nifty

According to these traders, henceforth all settlements will be shifted to NSE International Financial Services Center which is located in Gift City, Gandhinagar, Gujarat.

For this, the transfer will be done through a special purpose vehicle which will come under SGX India Connect IFSC or SGX ICI.

Nifty 50 contracts will be matched for trading with NSE IFSC and SGX ICI route will be used for the same.

SGX What will be the significant change in Nifty??

All open positions were automatically transferred by the SGX exchange on 30th June 2023 itself. Apart from this, to complete the process of liquidity switch, all open positions on NSE IFSC Nifty have been switched.