SGX Nifty to be renamed as Gift Nifty from July 3

Mumbai: SGX Nifty will be renamed as Gift Nifty from July 3 and entirely traded from NSE IFSC-SGX Connect at GIFT City, Gandhinagar, according to a National Stock Exchange spokesperson.

On April 14, Singapore Exchange (SGX) issued a notice saying full-scale operation of the NSE IFSC-SGX Connect with the transition of SGX Nifty derivatives to NSE IFSC will take place on 3 July 2023.

On Monday, the National Stock Exchange (NSE) said the proposal had obtained all approval from the Singapore regulator Monetary Authority of Singapore, and Gift IFSC regulator International Financial Services Centres Authority. "All SGX orders will be transferred to NSE IFSC Exchange for matching from July 3, 2023," he added.


The SGX said that the exchange would automatically migrate all open positions in SGX Nifty on June 30, 2023, to NSE IFSC Nifty in executing the liquidity switch.