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Mumbai exchange sues Singapore bourse to stop listing of Indian futures

SGX plans to launch new Indian derivatives in June

The National Stock Exchange building in Mumbai   © Reuters

SINGAPORE -- Singapore Exchange has been sued by the National Stock Exchange of India that wants to stop SGX from selling and trading some Indian derivative products.

NSE brought the case in a Bombay High Court on Tuesday, which led the shares in the Singapore bourse to slide to a one-month low, as the legal tussle casts a shadow over the SGX's trading outlook. NSE wants to block SGX from listing new Indian equity futures and options. It accuses SGX of drawing liquidity away from Indian bourses. 

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