The National Stock Exchange of India (NSE) has marked a significant milestone with its international segment, GIFT Nifty, achieving unprecedented records in September 2024. Located at the Gujarat International Finance Tec-City (GIFT City) in Gandhinagar, GIFT Nifty has solidified its position as a pivotal platform for global investors seeking to tap into India's financial markets.
Record High Monthly Turnover
GIFT Nifty recorded an all-time high monthly turnover of $100.7 billion in September 2024, surpassing its previous records. This achievement underscores the growing global interest and trust in GIFT Nifty as a benchmark for India's economic growth.
Since the commencement of its full-scale operations on July 3, 2023, GIFT Nifty has witnessed a cumulative volume exceeding 27.11 million contracts, with a total cumulative turnover of $1.18 trillion as of September 2024. This exponential growth highlights the platform's increasing importance in the global financial landscape.
All-Time High Open Interest and Daily Turnover
On September 24, 2024, GIFT Nifty achieved an all-time high open interest of $20.84 billion, surpassing its previous record set just a day earlier. Additionally, it recorded a single-day turnover of $22.72 billion on the same day, further emphasizing the platform's robust performance.
These milestones reflect the increasing trust global investors have placed in NSE's international platform. GIFT Nifty offers a diversified portfolio of products, including Indian Single Stock Derivatives, Index Derivatives, Currency Derivatives, Depository Receipts, and Global Stocks, making it a comprehensive platform for international investors.
Infrastructure Expansion and Trading Capabilities
In addition to the record-breaking performance of GIFT Nifty, NSE is also focusing on expanding its domestic infrastructure. The exchange is set to triple its colocation rack capacity over the next three years to enhance trading operations. This expansion will increase the capacity to handle order messages from 5 million per second to 20 million per second across various asset classes, ensuring the infrastructure can cope with the ever-growing trading volume.
This infrastructure upgrade is driven by feedback from NSEs members, who have expressed the need for more racks to enhance their trading operations. The expansion will enhance the ease of operations and increase the availability of racks for trading members, maintaining NSE's competitive edge in handling large volumes of trades globally.
For more information on financial markets and trading platforms, you can explore the concept of financial markets and how they operate.
