NSE to unveil new identity for GIFT Nifty

GIFT SEZ NSE International Exchange (NSE IX) will unveil the new identity of GIFT NIFTY at GIFT City on Monday.

Njeti Srinivas, Chairman, International Financial Services Center Authority (IFSCA) will be the chief guest of the event, which will be held in the presence of Ashishkumar Chaunah, Managing Director and Chief Executive Officer, NSE, and V Balasubramaniam, Managing Director and Chief Executive Officer, NSE IX.

GIFT Nifty is a new identity given to SGX Nifty, which is traded on the Singapore Stock Exchange (SGX). The complete transition from the Singapore Stock Exchange (SGX) to the NSE-IFSC Stock Exchange will take place at the International Financial Services Center (IFSC) in GIFT City – Gandhinagar, on July 3, 2023.

After the switch, all Nifty derivative contracts denominated in USD will be traded exclusively on NSE IFSC. All open positions in SGX Nifty will move to GIFT Nifty; Hence there is no open interest in SGX NIFTY.

SGX NIFTY will be suspended from trading after the end of Session T on 30th June 2023. SGX intends to delist SGX NIFTY.