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: GIFT SEZ NSE International Exchange (NSE IX) will unveil the new identity of GIFT NIFTY at GIFT City on Monday.
Injeti Srinivas, Chairman of the International Financial Services Centre Authority (IFSCA) will be the chief guest of the event, which will be held in the presence of Ashishkumar Chaunah, MD & CEO, NSE, and V Balasubramaniam, MD & CEO, NSE IX.
GIFT Nifty is a new identity given to SGX Nifty, which was traded on the Singapore Exchange (SGX). A full-scale switch from Singapore Exchange (SGX) to NSE-IFSC Exchange in the International Financial Services Centre (IFSC) in GIFT City - Gandhinagar, will happen on July 3, 2023.
Following the transition, all US dollar-denominated Nifty derivatives contracts will be exclusively traded on NSE IFSC. All open positions in SGX NIFTY will migrate to GIFT NIFTY; hence no open interest remain in SGX NIFTY.
The SGX NIFTY will be suspended from trading after the end of the T session on June 30 2023. SGX intends to delist the SGX NIFTY.
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