NSE gets approval to delist Nifty50 from SGX, SGX Nifty rechristened GIFT Nifty
The National Stock Exchange of India has received regulatory approvals to delist Nifty50 futures from the Singapore Exchange and list on the NSE IFSC Exchange, an NSE spokesperson said.
All trades done on Nifty 50 futures on the Singapore Exchange will be transferred to NSE IFSC Exchange for matching from July 3, the spokesperson said.
Following the listing, SGX Nifty will be called “GIFT NIFTY” from July 3.
On April 17, the exchange had issued a circular, informing investors that SGX Nifty will be suspended from trading effective June 30, which is a Friday, and also to delist the security at a later date.
“The SGX Nifty positions will be converted to NSE IFSC Nifty positions based on a conversion ratio of 1:1. Each new NSE IFSC Nifty position will be equivalent to one original SGX Nifty position,” SGX said.
Once the transition is complete, SGX Nifty 50 index futures will be known as NSE IFSC Nifty 50 index futures, SGX Nifty Bank index futures will turn into NSE IFSC Nifty Bank index futures while SGX Nifty 50 index options will be known as NSE IFSC Nifty 50 index options.
