Prime Minister Narendra Modi has launched NSE IFSC-SGX Connect, a platform that will allow global investors to trade dollar-denominated Nifty futures available at Singapore Stock Exchange (SGX) in GIFT City.

The NSE IFSC-SGX Connect is a joint venture between the National Stock Exchange of India (NSE) and the SGX. The new platform will allow global investors to access NSE IFSC market data in real time. The clearing and settlement process will be through NSE IFSC Clearing Corporation and SGX Group's Derivatives Clearing as the central counterparty. Foreign banks and institutions such as Deutsche Bank, Morgan Stanley Asia (Singapore) Securities OCBC Securities, Orient Futures International (Singapore), Phillip Nova, StoneX Financial, and UBS AG have integrated NSE IFSC-SGX Connect.