SGX stock falls 2% before midday break on news of potential injunction

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SINGAPORE (May 22): Singapore Exchange (SGX) is facing a potential interim injunction on the India equity derivative products it intends to launch in June this year, but maintains that it nonetheless will continue to list the products as planned.

To recap, SGX earlier announced its intention to launch three derivative products in June 2018 – SGX India futures, SGX India options and SGX India bank futures – to succeed the derivatives it used to offer on India’s benchmark Nifty 50.

(See: SGX shares opens near 7% lower on Nifty futures exit news)
(See: Singapore turns India's Nifty into a giraffe: Bloomberg Gadfly)

The bourse reports in a Tuesday morning filing that it has been informed by the National Stock Exchange of India (NSE) of an application made in the Bombay High Court for an interim injunction on these products... (Click here to read the full story)