NSE and SGX may soon launch Nifty index from IFSC

NEW DELHI: The arbitration process involving the NSE and the Singapore Exchange (SGX) has been deferred and the two bourses are a step closer to launching Nifty index from IFSC, Gift City, sources told ET Now on Monday.

According to the sources, the two exchanges have submitted their new product, with Nifty50 as underlying index.

Sebi, sources said, was in the process of examining the new offering and was in discussion with Singapore’s central bank Monetary Authority of Singapore (MAS). The new offering will require tweaks in norms of IFSC, the report suggested.


The government has provided several incentives for using the International Financial Services Centre (IFSC), including tax sops and single application form for FPI registration. Sebi also relaxed several compliance requirements.

However, activity in the IFSC Gift is still in a nascent stage as the platform just witnesses volumes of $500-700 million every day, ET reported recently . Liquidity concerns are keeping FPIs away from the platform, teh report had suggested.