Gold Silver Reports (GSR) – NSE-SGX Arbitration Order Unlikely This Year — The dispute stems from NSE’s decision to terminate its data-sharing pact with its Singapore partner. The Indian bourse, along with two other domestic exchanges, decided to stop sharing data with foreign peers to prevent volumes from shifting overseas and to promote trading in GIFT City, the international financial hub in Gujarat. Since such contracts are used by foreign investors to hedge their position in India, SGX decided to offer derivatives mirroring NSE’s indices based on public data.
Singapore Exchange
NSE sues SGX on its Nifty-Based India Futures, Options
Gold Silver Reports (GSR) – NSE sues SGX on its Nifty-Based India Futures, Options — Indian exchanges had on 9 February decided to bar overseas exchanges from trading in Nifty derivatives, including futures and options, in an attempt to check migration of trades away from Indian exchanges. Two months later, on 11 April, SGX announced a new product which works just like the Nifty index, bypassing the Indian exchanges.