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SGX shares fall 9% after Indian bourses rein in offshore trading

Over the past two decades, SGX has become the most popular way for foreign investors to bet on Indian equity indexes with Nifty futures tracking the NSE main index

Reuters  |  Singapore 

Shares in Singapore Exchange Ltd (SGX) plummeted as much as 9 percent Monday as brokers cut their earnings estimates after a move by India's three main bourses to stop licensing their indexes and securities to foreign exchanges. The unexpected decision to prevent trading from migrating abroad will especially hurt SGX's Nifty 50 index futures, which is the exchange's flagship Indian equity derivatives product and accounts for about 12 percent of its total derivatives trading volume. "SGX's edge and key proposition to clients was the ability to invest in ...

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First Published: Mon, February 12 2018. 21:54 IST
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