The hearings after arbitration are expected to start early-2019.
Singapore Exchange (SGX) was granted a licence extension to continue the listing and trading of SGX Nifty contracts after August 2018.
As part of ongoing arbitration proceedings, SGX and the National Stock Exchange (NSE)’s index company, India Index Services and Products Limited (IISL) , were directed by an order dated 14 June 2018 to facilitate the continued listing of SGX Nifty products for at least two successive contract month maturations beyond the arbitration’s completion date.
“Arbitration proceedings are continuing and the hearings on evidence are expected to commence in early 2019. We will provide updates to the market in due course,” SGX said.
Meanwhile, SGX was blocked from offering new India equity derivatives products such as those announced on 11 April 2018.
SGX previously decided to reschedule the launch of its new India derivatives as a lawsuit initiated by the NSE is headed into arbitration. It was not able to contest the injunction filed by NSE subsidiary IISL on 21 May 2018 as it was not notified by IISL of its application for the injunction.
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