NSE launches data connect with SGX via Gift City

Mumbai: Foreign funds trading in Indian derivatives through Singapore Exchange (SGX) will start having access to live price feeds of Nifty from International Financial Services Centre (IFSC), Gift City, Gandhinagar. On Friday, the National Stock Exchange (NSE) launched data connectivity with the SGX through IFSC. This is seen as the first step towards migrating the Nifty trades happening on SGX to India.

NSE had cancelled the data-sharing agreement with SGX back in 2018 due to which the SGX traders received only the end of the day price information and all the real-time price data feeds were no longer available to them. Now, they can access the real-time data from IFSC, said people privy to the development.

"This market data connect will allow the SGX members to read the price data of Nifty derivative products at NSE IFSC in real time, which will help them to fine tune their trading strategies in preparation for the connect to go live," said Vikram Limaye, managing director, the National Stock Exchange.