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Trading of SGX Nifty on Monday kickstarted at NSE IFSC. The Nifty futures is currently ruling at 19,358 (at 7 am), and 123 contracts traded in early deal.
“Full-scale operation of the NSE IFSC-SGX Connect (Connect) with the transition of SGX Nifty derivatives to NSE IFSC will take place on July 3, 2023. Following the transition, all US dollar denominated Nifty derivatives contracts will be exclusively traded on NSE IFSC,” a notice on the SGX Nifty Derivatives said in April.
The notice then said that with the migration of all open positions in SGX Nifty to NSE IFSC Nifty, there will be no open interest remaining in SGX Nifty. The SGX NIFTY will be suspended from trading after the end of the T session on June 30, the circular said, adding that SGX intends to delist the SGX Nifty at a later date, pending due regulatory process.
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