Singapore Exchange falls most in nine years amid India futures spat

India's exchanges have decided it's in their "business interest" to stop offshore trading of products linked to their indexes to ensure that liquidity stays in the country: Ajay Tyagi

Singapore Exchange Ltd stock fell the most since November 2008 in early trading Monday as investors reacted to the National Stock Exchange of India Ltd.’s move to end its licensing pact with the Lion City bourse.

NSE, together with other Indian markets, said on Friday night that they would end all licensing agreements with their foreign counterparts, and stop offering live prices to overseas venues. The steps would make it impossible for SGX to keep offering derivatives based on India’s benchmark Nifty 50, among its flagship products.

Singapore has become a hub of offshore trading for many markets. The significance of India’s