The National Stock Exchange (NSE) International Financial Service Centre (IFSC) and Singapore Exchange (SGX) Connect launch has been postponed, with both NSE and SGX informing trading members and vendors.
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“Members may note that the operationalisation of the NSEIFSC-SGX Connect is deferred. The revised date for operationalisation of the Connect shall be informed shortly through a separate circular,” NSE IFSC said in a circular on Wednesday.
On Friday, PM Modi has to bring SGXNifty trading Gift City IFSC to get operationalised. However, after Gujarat’s flood, Modi decided to cancel all his programmes at Gift City.
Now, these trades will be routed through NSE IFSC, which will give a fillip to Gift City during the SGX connect launch. The proposed model of SGX connect is on the lines of Shanghai-Hong Kong Stock Connect.
Several parts of Ahmedabad were inundated, with the city receiving a record 115 mm rainfall in three hours.
