NSE, SGX joint trading at GIFT likely to take place by December

Amid arbitration proceedings, the proposed collaboration between the Singapore Exchange (SGX) and the National Stock Exchange (NSE) to jointly offer trading at Gujarat International Finance Tec (GIFT) City could take shape before the end of the year, said people with knowledge of the development. GIFT is India’s only International Financial Services Centre (IFSC). Sources said currently both the exchanges are seeking feedback from market participants. In October, they could approach their respective regulators with the proposed plan and later launch the products for GIFT City. A source said trading in the new products could start by December.

Sources say the regulators