Singapore Exchange Nifty (SGX Nifty) 50 futures are going to be delisted from NSE soon. The National Stock Exchange (NSE) informed on May 16 that it has received regulatory approval for the delisting.
Explain that it will be delisted from July 3 and all its orders will be transferred to NSE IFSC.
According to an NSE spokesperson, SGX Nifty will be renamed as GIFT Nifty from July 3. GIFT Nifty and all SGX orders will be transferred to GIFT City, NSE IFSC Exchange. The Singapore Exchange had announced this only last month.
When will trading on SGX Nifty close?
All open positions in SGX Nifty will be transferred to NSE IFSC Nifty, hence there will be no open interest on SGX Nifty. Trading on SGX Nifty will cease at the close of business on June 30.
Investors will then be able to trade in dollar denominated Nifty futures contracts on the SGX of Gifty City. NSE IFSC is a subsidiary of NSE and has an exchange at the International Financial Services Center (IFSC) in GIFT City, Gujarat.