Singapore Exchange to delay start of new India futures after lawsuit

Singapore Exchange to delay start of new India futures after lawsuit

A view of the SGX signage outside their office in Singapore March 2, 2017. REUTERS/Edgar Su

Singapore Exchange Ltd. said it will delay the start of its new Indian stock futures contracts, as a court dispute in Mumbai heads to arbitration.

SGX, which is battling with National Stock Exchange of India Ltd. over Indian derivatives in the city-state, had been due to launch the SGX India Futures on June 4. The products were designed as a replacement for the popular Nifty 50 Index contracts, which are due to end in August after NSE canceled its licensing and data deal with its Singapore counterpart.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter