National Stock Exchange (NSE) has approached Bombay High Court against the move of the Singapore Exchange (SGX) to list new India-related equity derivative products in June this year. However, the SGX has affirmed to sustain its decision. "We have full confidence in our legal position and will vigorously defend this action," the SGX informed in a statement on Tuesday. The SGX in April had announced that it will list new India equity derivative products in June to provide market participants with continuity and the ability to seamlessly transition their current India risk management exposures. The announcement was made after three major Indian exchanges - BSE, NSE and Metropolitan Stock Exchange of India (MSEI) - in a joint statement in February declared halting of operations of their indices on international bourses to prevent the loss of trades to overseas rivals. SGX said it was notified by the NSE of an application made in the Bombay High Court for an interim injunction on the new products. "Our new India derivative products, which have received the relevant regulatory approvals, will list in June 2018 and allow our clients to seamlessly transition their India risk management exposures," it said. According to the SGX, the new India equity derivative products are essential to enable institutional investors to maintain their current portfolio risk exposure to the Indian capital markets. "We have, from the onset, expressed to NSE that there is a need to maintain liquidity in the international India equity derivatives market, in order to connect international participants to GIFT IFSC. We remain open to working with NSE and other relevant stakeholders to develop a solution that meets the risk management needs of global market participants,\u201d Michael Syn, Head of Derivatives, SGX, was quoted as saying in the statement. SGX is an investment holding company located in Singapore and provides different services related to securities and derivatives trading and others. NSE, which began operations in 1994, is the leading stock exchange in India and the fourth largest in the world by equity trading volume in 2015, according to World Federation of Exchanges (WFE). NSE launched electronic screen-based trading in 1994, derivatives trading (in the form of index futures) and internet trading in 2000, which were each the first of its kind in India.