TT provides access to India’s Nifty equity derivatives via SGX

Trading Technologies has connected the Singapore Exchange (SGX) to the National Stock Exchange of India (NSE) to enable international Nifty equity derivatives trading.

The firm successfully began offering clients access to the popular Nifty equity derivatives through NSE IFSC-SGX Connect, a new joint initiative between SGX and NSE.

The Connect, which was officially launched by India Prime Minister Narendra Modi, covers India’s stock index-based products and was developed by India’s first International Financial Services Centre (IFSC) known as GIFT (Gujarat International Finance Tec) City in Gandhinagar.

Major global banks and other TT clients have gained immediate access when trading began through NSE IFSC-SGX Connect on July 29, the fintech firm announced.

Guy Scott, EVP and Chief Revenue Officer at Trading Technologies, said: “We are delighted to be among the first technology providers to offer day-one global access to the benchmark Nifty products under the innovative new trading regime in India’s GIFT City. We’ve seen strong demand for this access from many of our biggest global bank clients, which serve institutional investors that incorporate the Indian equity markets as part of their global macro-economic portfolios. We’re also pleased to build further on our longstanding relationship with SGX Group and support its diverse product offering through the new Connect initiative.”

Pol de Win, Head of Global Sales & Origination, SGX Group, said: “We are excited that the Connect has now gone live, enabling direct and efficient access for international and domestic investors to trade Nifty futures. With an enhanced pool of liquidity from all over the world, we are optimistic it will support a more vibrant capital market in India. This has been a tremendous undertaking and we are pleased to roll this innovative pathway out with the efforts from Trading Technologies and our members.

All orders placed by SGX routed and matched on the NSE-IFSC platform

The Connect enables both international and domestic market participants to take a position on India’s equity markets through futures based on the Nifty 50.

International members of SGX Group and domestic clients of NSE IFSC can trade and access real-time trading data of Nifty contracts via SGX Group’s derivatives trading infrastructure in GIFT City.

All orders on Nifty derivatives placed by SGX Group members are routed to and matched on the NSE-IFSC order matching and trading platform.

As one of the first technology providers to offer international market participants access to the Connect, Trading Technologies is giving global banks and other major financial institutions that use the TT® platform seamless

Trading Technologies provides access to Nifty equity derivatives alongside products from more than 50 other major international markets, including SGX Group. The fintech caters to proprietary traders, brokers, money managers, Commodity Trading Advisors (CTAs), hedge funds, commercial hedgers, and risk managers.