INSUBCONTINENT EXCLUSIVE:
The Bombay High Court will hear the dispute between the National Stock Exchange (NSE) and the Singapore Exchange on new derivative products
On May 21, the NSE filed a petition before the Bombay High Court against Singapore Exchange Limited (SGX) under Section 9 of the
Arbitration Act seeking urgent interim relief
The relief has been sought against the marketing, promotion and launch of three new contracts called SGX India Futures, SGX Options on SGX
derivative contracts by SGX
The matter was heard by the court and has been kept for further detailed arguments on May 31, 2018
February, Indian stock exchanges - the BSE, the NSE and the Metropolitan Stock Exchange - had taken a decision to cancel their licensing
agreements with overseas bourses on offshore derivative contracts
However, on April 11, SGX announced new India equity derivative products that will be based on settlement prices of Nifty futures
contracts.
Derivatives are contracts between two or more parties whose value or prices are determined by the fluctuations of the underlying
financial assets such as securities, bonds, currencies, stocks, or market indices.
