SINGAPORE (Reuters) - Singapore Exchange Ltd (SGX) said on Tuesday the National Stock Exchange of India had applied for an interim injunction in an Indian court on SGX's new derivatives products, but SGX plans to go ahead and list them next month.
"We have full confidence in our legal position and will vigorously defend this action. Our clients can continue to trade per normal." SGX said in a statement.
In April, SGX said it would list new Indian equity derivative products in June, a move which follows a decision by India's three main bourses to stop licensing their indexes to overseas exchanges.
The Indian exchanges' unexpected decision in February, was aimed at preventing share trading from moving abroad.
(Reporting by Anshuman Daga; Editing by Edwina Gibbs)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app