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SGX and India's NSE enter into formal agreement on NSE IFSC-SGX Connect

Felicia Tan
Felicia Tan9/22/2020 05:59 PM GMT+08  • 2 min read
SGX and India's NSE enter into formal agreement on NSE IFSC-SGX Connect
Both NSE and SGX will also withdraw the arbitration proceedings between them.
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Singapore Exchange (SGX) and India’s National Stock Exchange (NSE) have taken the next step towards the NSE IFSC-SGX Connect.

Both exchanges entered into a formal agreement on September 22 to cement the key terms for operationalising the NSE IFSC-SGX Connect, which will bring together international and Gujarat International Finance Tec-City (GIFT) participants to create a bigger liquidity pool for Nifty products in GIFT City.

Both NSE and SGX will also withdraw the arbitration proceedings. In May 2018, SGX and NSE went to court in India to settle its dispute where NSE tried to prevent SGX from launching new derivatives products to address SGX’s loss of Nifty 50 futures contracts.

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