NSE unlikely to take legal route to counter SGX's move to launch trading

Aims to resolve stalemate through back-channel talks; wants to expedite Gift connect: Sources

The National Stock Exchange (NSE) is unlikely to take the legal route to counter the Singapore Exchange’s (SGX’s) move to launch trading in new India products.

According to people in the know, the domestic bourse is considering litigation as the last resort. It intends to resolve the stalemate with SGX through back-channel talks. The NSE is also keen on expediting inter-exchange connectivity between its subsidiary at the Gujarat International Finance Tec-City and SGX.

Earlier this week, SGX had said it would delist all the NSE-licensed contracts and launch trading in new India products, including SGX India futures, SGX India options and SGX