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  1. NSE studying SGX plan to launch derivative products

NSE studying SGX plan to launch derivative products

The National Stock Exchange (NSE) on Wednesday said it is examining the announcement by Singapore Exchange (SGX) on its plan to launch new derivative products on Indian securities, as the SGX-Nifty licence is expiring in August.

By: | Mumbai | Published: April 12, 2018 3:02 AM
NSE,  SGX plan, stock markets SGX in a statement said it would list new India equity derivative products in June, providing market participants continuity with their India risk management exposures.

The National Stock Exchange (NSE) on Wednesday said it is examining the announcement by Singapore Exchange (SGX) on its plan to launch new derivative products on Indian securities, as the SGX-Nifty licence is expiring in August.

“We have asked for more details from SGX on the product structure and hope to have a conversation with the SGX team to get a better understanding of the product. Post that conversation and review of the material in the public domain and the announcement made by exchanges in February, we will need to make an assessment whether or not the products announced by SGX are compliant with the announcement made by the Indian exchanges on 9 February 2018,” Vikram Limaye MD & CEO said in a statement.

“We will also have a discussion with other exchanges and the regulator once we have a better understanding and then determine course of action,” he added.

Earlier on Wednesday, SGX in a statement said it would list new India equity derivative products in June, providing market participants continuity with their India risk management exposures. The statement further said work is progressing to evaluate a joint trading and clearing model in Gujarat International Finance Tech (GIFT) city between the National Stock Exchange of India (NSE) and SGX to meet the risk management needs of international participants.

“While implementation is not feasible before the expiry of the licence agreement with NSE, SGX remains committed to engagements with NSE and other relevant stakeholders in India towards collaboration in GIFT city,” SGX said.

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