SGX Nifty To Be Delisted, Switched To NSE IFSC Nifty From July 3

SGX Nifty, an early indicator of the performance of Indian equity markets, will get delisted from the Singapore Exchange and get listed in the form of IFSC Nifty from July 3.

The Singapore bourse will perform a "liquidity switch" from SGX Nifty 50 Index Futures, SGX Nifty Bank Index Futures, and SGX Nifty 50 Index Options, collectively known as SGX Nifty, to NSE IFSC Nifty 50 Index Futures, NSE IFSC Nifty Bank Index Futures, and NSE IFSC Nifty 50 Index Options, collectively known as the NSE IFSC Nifty, according to the Singapore Exchange on its website.

SGX will automatically migrate all open positions in SGX Nifty after the end of trading on June 30 to NSE IFSC Nifty, the exchange said.

Thus SGX Nifty will be suspended from trading after the end of the session on June 30, it said.

"The SGX Nifty positions will be converted to NSE IFSC Nifty positions based on a conversion ratio of 1:1," SGX said. Each new NSE IFSC Nifty position will be equivalent to one original SGX Nifty position, it said. 

SGX, however, intends to delist the SGX Nifty at a later date, pending due regulatory process, it said.

The exchange will waive all relevant clearing fee and position transfer fee for the SGX Nifty and NSE IFSC Nifty in this liquidity switch, it said.

"Market participants who do not wish to have their SGX Nifty migrated to NSE IFSC Nifty by SGX should close out the open positions in SGX Nifty, or perform the switch themselves via open market trading, before the end of the T session on June 30," SGX said.