Futures Trading Rules
Directive No. 2 — No Trading of NSE IFSC Nifty Next 50 Index Futures and Options and NSE IFSC Nifty Midcap Select Index Futures and Options through the Connect
| Dates | Cross Reference | Enquiries |
| Issue Date 17 July 2024 Effective Date 17 July 2024 | Please contact Member Supervision:— Facsimile No: 6538 8273 E-Mail Address: membersup@sgx.com |
- Background
- Currently, the following Connect Contracts are available for trading in the Connect Market:
- NSE IFSC Nifty 50 Index Futures;
- NSE IFSC Nifty Bank Index Futures;
- NSE IFSC Nifty IT Index Futures;
- NSE IFSC Nifty Financial Services Index Futures;
- NSE IFSC Nifty 50 Index Options;
- NSE IFSC Nifty Bank Index Options;
- NSE IFSC Nifty IT Index Options; and
- NSE IFSC Nifty Financial Services Index Options.
- The NSE IFSC Nifty Next 50 Index Futures and Options and the NSE IFSC Nifty Midcap Select Index Futures and Options (“New Connect Contracts”) were recently launched on NSE IFSC.
- Currently, the following Connect Contracts are available for trading in the Connect Market:
- Trading Prohibition
- Pursuant to Rule 1.10.1 read with Rule 2.1.3 and Rule 2.1.3A, the Exchange directs that until further notice, there shall be no trades executed in the New Connect Contracts, whether on Members’ House Accounts or Customer Accounts, and whether on the Connect Market or through Negotiated Large Trades until further notice.
- Procedures for Ineligible Trades in New Connect Contracts
- In the event where there is a trade in the New Connect Contracts (“Ineligible Trade”), the relevant Members shall fully cooperate with the Connect Broker and/or the Exchange in the management of these positions, which include their cancellation or liquidation. A Member shall be required to take such necessary steps to facilitate the management of such Ineligible Trades and shall similarly ensure that its customer(s) comply with any directions by the Exchange in this regard.
- Neither the Exchange nor the Connect Broker shall be liable for any loss or damage (directly or indirectly) that may be suffered by Members and/or their customers as a result of any Ineligible Trades, including any action taken by the Connect Broker or the Exchange to cancel or liquidate such Ineligible Trades.
- The Exchange shall have the right at all times to take disciplinary actions against the Member, Approved Trader or Registered Representative for a breach of the provisions of this Directive.
Added on 17 July 2024.