The SGX Nifty has started trading as GIFT Nifty at GIFT City in Gandhinagar on July 3, 2023. NSE’s international contracts, previously traded in Singapore, will now be traded at Gujarat International Finance Tec-City (GIFT City).
The migration of GIFT-NIFTY to GIFT City will strengthen GIFT-IFSC as a global hub for international financial products and services.
GIFT Nifty will have two trading sessions: the first session from 6:30 am to 3:40 pm IST and the second session from 5 pm to 2:45 am.
Nifty stands for ‘National Stock Exchange Fifty’ and is the index for the National Stock Exchange. SGX stands for Singapore Exchange (SGX).
Q.: Where will the trading of NSE’s international contracts, previously done in Singapore, take place now?
a) Singapore Stock Exchange
b) Mumbai Stock Exchange
c) GIFT City in Gandhinagar
d) International Financial Services Centres Authority (IFSCA)
Answer: c) GIFT City in Gandhinagar