A court-appointed arbitrator allowed Singapore Exchange Ltd. to continue listing and trading its India derivative products beyond August, amid a dispute over products offered by the Singapore bourse.
The arbitrator directed SGX and National Stock Exchange of India Ltd. to facilitate the continued listing of SGX Nifty products for at least two successive contract month maturations beyond the arbitration's completion date, according to separate June 16 statements from the bourses.
Meanwhile, SGX was directed to not offer new India equity derivative products.
In May, NSE applied with the Bombay High Court for an interim injunction on India derivative products offered by SGX. This comes after three Indian stock exchanges, including NSE, said in February that they would stop providing data on Indian stock prices and indexes to foreign exchanges over concerns that trading in India-listed securities has been moving beyond the country's borders.
Arbitration proceedings are ongoing and hearings on evidence will begin in early 2019.