Global Algo Traders Set to Swarm India Stock Futures, SGX Says

Five to 10 market makers may debut in second half: Syn
GIFT Nifty trading volumes have shrunk since moving onshore

Gujarat International Finance Tec-City.
Photographer: Dhiraj Singh/Bloomberg

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By Ishika Mookerjee

March 4, 2024 at 7:37 AM UTC

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Some of the world’s largest market makers operating systematic strategies are gearing up to trade India equity futures from a new financial hub in the South Asian country, according to the president of Singapore Exchange Ltd.

About five to 10 systematic traders, who use pre-defined rules and mathematical models to make decisions, are getting ready to begin trading GIFT Nifty futures in the Gujarat International Finance Tec-City starting from the second half of 2024, Michael Syn said in an interview in Singapore.