Bombay HC extends NSE-SGX arbitration deadline to December 2020

Both the NSE and the SGX pleaded before the Bombay HC that more time should be granted

The Bombay High Court (HC) has extended the arbitration deadline till December 31, 2020, for settling the dispute between the National Stock Exchange (NSE) and the Singapore Exchange (SGX) over the trading of Nifty products. In the interim, Nifty derivatives will be allowed to be traded on the SGX.

Both the exchanges are engaged in arbitration proceedings under the Arbitration and Conciliation Act.

The dispute was triggered after the NSE decided to terminate the Nifty trading pact with the SGX in February 2018. Also, the Singapore bourse's subsequent decision to launch identical India products became a bone of contention.