INSUBCONTINENT EXCLUSIVE:
Even as the National Stock Exchange (NSE) weighed its options to protect its turf after Singapore Exchange (SGX) pulled one off on it by
launching a series of independent India-based equity derivative contracts, market veterans marvelled at the product innovation SGX appears
to have accomplished.While exact details of the new products are not available, SGX simply said: "The reference value (for the new India
contracts) will be the average of the final settlement prices of futures contracts traded on relevant exchanges that each: (i) references a
broad-based India equity index covering 50 stocks listed on National Stock Exchange of India, which captures approximately 65 per cent of
its float-adjusted market capitalisation; and (ii) has the same last trading day as the expiring SGX India Futures Contract
Let us see how the world accepts it
futures, the same that today they are the same
So, it is a brilliant legal manoeuvre
It is good, he said.The move by the Indian exchanges to stop providing licences and data to foreign bourses had not gone down well with
indices, which are used by overseas asset managers to construct exchange-traded funds (ETFs) and benchmark portfolios.June 4 will be called
institutional clients since its launch, demonstrating the demand for access products.NSE said it will determine the course of action after
discussions with other exchanges and the regulator
Another NSE official said it will take legal action if the new product violates its terms and conditions
But we just enjoy brilliant manoeuvres because we are analysts
We analyse many things and we enjoy and that is how we cannot survive in this world for 20 years
