New Products
Singapore's Stock Exchange Launches Indian Equity Products

The SGX move comes after Indian exchanges in February moved to restrict outflows of liquidity from their own markets, creating a need for foreign clients to retain some form of exposure.
Singapore’s stock market is to list new Indian equity derivative
products in June, two months after India’s national stock
exchanges announced they will stop licensing indices to foreign
bourses.
SGX said it will list the products to “provide market
participants with continuity and the ability to seamlessly
transition their current India risk management
exposures”.
The products add to the current India Single Stock Futures
offering, SGX said in a statement this week. The Singapore
exchange said it is examining a joint trading and clearing model
in Gujarat International Finance Tech city that links the
National Stock Exchange of India and SGX.
“While implementation is not feasible before expiry of the
licence agreement with NSE, SGX remains committed to engagements
with NSE and other relevant stakeholders in India towards a
collaboration in GIFT city,” the exchange said.
On 9 February, NSE, Bombay Stock Exchange and Metropolitan Stock
Exchange of India issued a joint statement notifying overseas
exchanges that they will no longer licence Indian indices or
provide data, including the price, on Indian securities. The
statement said: “It is observed that for various reasons the
volumes in derivative trading based on Indian securities
including indices have reached large proportions in some of the
foreign jurisdictions, resulting in migration of liquidity from
India, which is not in the best interest of Indian market.”