India court extends injunction against SGX in futures dispute

India court extends injunction against SGX in futures dispute

Electronic board indicating the latest stock figures are reflected in a glass facade at the National Stock Exchange of India Ltd. (NSE) in Mumbai, India, on Friday, Dec. 16, 2016. Photographer: Dhiraj Singh/Bloomberg

The Bombay High Court extended an injunction against Singapore Exchange Ltd. as it deferred hearing a dispute over plans for new offshore Indian derivatives contracts.

National Stock Exchange of India Ltd. obtained an interim order on May 21 that restrains SGX from launching the products in June. The stay will remain until at least the next hearing in the case between the bourses, set for May 26, the NSE said in a statement late Wednesday. SGX officials declined to comment.

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