NSE IFSC-SGX Connect may be fully operational by June

The proposed connectivity between Singapore Exchange (SGX) and the National Stock Exchange at International Financial Services Centre (IFSC), GIFT City, Gujarat may become fully operational by second quarter of 2023, according to a joint media statement issued by SGX and NSE on Wednesday.

Through this connectivity, global investors who are clients of SGX will be able to trade in Indian derivatives market remotely without having to set up a shop in India. Currently, only a few trades are being executed through the route.

After this transition, NSE IFSC is expected to introduce dollar-denominated Nifty contracts that will be exclusively traded on NSE IFSC.


The Connect enables orders from SGX members to be routed to NSE IFSC for trading and execution with clearing and settlement through SGX Derivatives Clearing.

Tata Consultancy Services is expected to deliver an enhanced connect infrastructure in early 2023 to facilitate this connect.