Singapore Exchange Granted Extension to Continue Trading of India Nifty Contracts Pending Next Arbitration in 2019
Singapore Exchange (SGX) has been granted a licence extension to continue the listing and trading of SGX Nifty contracts for at least 2 successive contract month maturations beyond the arbitration’s completion date, with arbitration proceedings to commence in early 2019.
” Singapore Exchange Granted Extension to Continue Trading of India Nifty Contracts Pending Next Arbitration in 2019 “
In May 2018, a subsidiary of the National Stock Exchange of India (NSE), India Index Services and Products Limited (IISL) was granted an interim injunction against the launch of SGX’s new India derivatives products that is due to be launch in June 2018, and to review all existing Nifty contracts. SGX was directed to refrain from offering new India equity derivatives products.
NIFTY 50 index is National Stock Exchange of India’s benchmark for the Indian equity market, represented by the weighted average of 50 Indian company stocks. In February 2018, some Indian stock exchanges had announced to stop licensing Indian stock indices, with the derivatives affecting direct investments into India.
Source: SGX
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