Singapore Exchange and the National Stock Exchange of India are putting an end to a multi-year dispute on derivative trading and launching a cross-border training link.
Both exchanges will formally withdraw arbitration proceedings for a dispute that first began in February 2018 over Singapore-based trading of a derivative linked to an Indian stock, according to a statement.
At the time, the National Stock Exchange of India (NSE) and other Indian markets said they would scrap licensing agreements with foreign bourses to discourage offshore before talks revived in July that year that resulted in a cross-border trading derivative link proposal with the Singapore Exchange (SGX).
Cross-Border Trading Link
The proposal has led to a cross-border trading link that will allow SGX participants to trade NSE Nifty 50 Index futures and options contracts from India’s India’s Gujarat International Finance Tec-City
«The connect will broaden the international and domestic participant base and further strengthen the capital market ecosystem in GIFT city resulting in more broad-based development across asset classes and capital raising activity,» said NSE CEO Vikram Limaye.
«SGX will work with NSE and stakeholders to develop a connectivity infrastructure,» added SGX CEO Loh Boon Chye.
