The National Stock Exchange (NSE) and Singapore Exchange (SGX) have entered into a formal agreement to cement the key terms for operationalising the NSE IFSC-SGX Connect which will bring together international and Gujarat International Finance Tec-City (GIFT) participants to create a bigger liquidity pool for Nifty products in GIFT City.
Both NSE and SGX have also decided to withdraw the arbitration proceedings.
The exchanges have recently received further regulatory clarifications from the relevant authorities on the implementation of the Connect, since receiving consent from their respective statutory regulators on the proposed Connect model last year,, as per a statement.
Both parties will continue to work with key stakeholders to develop the infrastructure for the Connect and ensure member readiness prior to its implementation, it added.
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