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SGX sued by India Exchange in futures dispute

Bloomberg Published on Wed, May 23, 2018 / 7:27 AM GMT+8

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(May 22): The National Stock Exchange of India sued Singapore Exchange in a Mumbai court, escalating a dispute that threatens to leave international investors without one of the world’s most widely used offshore futures contracts.

NSE is trying to stop its Singapore counterpart from launching derivatives that could replace the Nifty 50 contracts that have traded in the city-state for 18 years. Global funds use these instruments to hedge their positions in one of Asia’s biggest equity markets. Indian exchanges ended agreements that allowed offshore derivatives in February, leaving SGX and others scrambling.

See; SGX shares opens near 7% lower on Nifty futures exit news