SGX to unveil new Nifty products before August 2018

It is in talks with India's stock exchange to link overseas investors to local trading.

The Singapore Exchange (SGX) will list successor products to its SGX Nifty family of products before August 2018.

Singapore Business Review previously reported that India's three stock exchanges will halt the licencing of data for offshore derivatives which are linked to their domestic indices. The SGX has been looking for a workaround ever since.

"Market participants will be able to transition seamlessly to these products before the expiry of SGX’s licence agreement with the National Stock Exchange of India (NSE)," the SGX said in a press release.

The SGX Nifty family of products can continue to list, trade and clear uninterrupted on SGX until August 2018 at a minimum, supported by the current licence agreement with NSE.

Moreover, SGX said it will work with NSE to develop a link that will allow international market participants to trade on NSE’s International Exchange (NSE IFSC Limited) in Gujarat International Finance Tech (GIFT) city – International Financial Services Centre, whilst managing their clearing exposures through SGX.

Details of the successor products will be unveiled by March 2018.

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