Gift Nifty registers $8.5 billion turnover on Monday

economictimes.indiatimes.com:

Gift Nifty derivatives on NSE International Exchange (NSE IX) on Monday witnessed a record first session single day trading activity of over 2.14 lakh contracts with a turnover of $8.5 billion. This is a significant growth compared to the first-day full-scale operations volume of 33,570 contracts with a turnover of $1.21 billion, the exchange said in a statement.

Trading turnover on NSE IX has been growing exponentially since the commencement of the full-scale operation of NSE IX-SGX GIFT Connect from SGX to NSE IX on July 3. Since the first day of full-scale operations of Connect, Gift Nifty has witnessed a total cumulative volume of 7.86 lakh contracts with a total cumulative turnover of USD 30.28 billion.

Gift Nifty offers access to Gift Nifty 50, Gift Nifty Bank, Gift Nifty Financial Services, and Gift Nifty IT derivative contracts on NSE IX. These contracts are accessible for almost 21 hours, which overlaps Asia, Europe, and US trading hours.

Gift Nifty opens in two sessions, from 6:30 am to 3:40 pm and then again from 4:35 pm to 2:45 am in the second session. Gift Nifty offers a single pool of liquidity and a venue to access USD-denominated Nifty derivatives at NSE IX.