National Stock Exchange Of India Statement - Petition Against SGX Launch Of SGX India Futures, SGX Options On SGX India Futures And SGX India Bank Futures

NSE's Index company filed a petition before the Hon’ble Bombay High Court against the Singapore Exchange Limited (SGX) under Section 9 of the Arbitration Act seeking urgent interim reliefs against the marketing, promotion and launch of three new contracts called SGX India Futures, SGX Options on SGX India Futures and SGX India Bank Futures, in terms of its circular dated April 11 2018. 

The Hon’ble Bombay High Court granted an injunction against the launch of the new derivative contracts by SGX, as per the above-mentioned circular. The matter was heard by the Hon’ble Court and has been kept for further detailed arguments on May 31, 2018. Until then, the ad-interim injunction granted on May 21, 2018 continues against the launch of new derivative contracts by SGX.