Trading Technologies to offer clients access to Nifty equity derivatives

The trading software provider will utilise the Connect, a joint initiative between Singapore Exchange and National Stock Exchange of India, to allow clients to take positions on India’s equity markets.

Trading Technologies (TT) has begun offering clients access to Nifty equity derivatives through NSE IFSC-SGX Connect (the Connect), a new joint initiative between Singapore Exchange (SGX Group) and National Stock Exchange of India (NSE).   

Launched on 29 July, the Connect allows international and domestic market participants to take positions on India’s equity markets through futures based on the Nifty 50.

SGX Group’s derivatives trading infrastructure in Gujarat International Finance Tec (GIFT) City, India’s first International Financial Services Centre (IFSC), will enable international members of SGX Group and domestic clients of NSE IFSC to trade and access real-time trading data of Nifty contracts.

All orders on Nifty derivatives placed by SGX Group members via the Connect are routed to and matched on the NSE-IFSC order matching and trading platform.

TT is one of the first technology providers to offer international market participants access to the Connect, giving global banks and financial institutions that use the TT platform improved access to Nifty equity derivatives alongside products from over 50 other international markets such as SGX Group.  

“We’ve seen strong demand for this access from many of our biggest global bank clients, which serve institutional investors that incorporate the Indian equity markets as part of their global macro-economic portfolios,” said Guy Scott, EVP and chief revenue officer at TT.

“We’re also pleased to build further on our longstanding relationship with SGX Group and support its diverse product offering through the new Connect initiative.”

Pol de Win, head of global sales and origination at SGX Group, added: “With an enhanced pool of liquidity from all over the world, we are optimistic [the Connect] will support a more vibrant capital market in India.”

Earlier this year, TT partnered with institutional digital asset trading technology provider, Talos, to broaden TT’s cryptocurrency offering on a global basis. The first phase of the agreement will provide TT clients with access to an additional 14 cryptocurrency markets in the third quarter of this year.