Singapore Exchange shares fall 8 pct after Indian bourses rein in offshore trading

By Kitco News / February 11, 2018 / www.kitco.com / Article Link

SINGAPORE, Feb 12 (Reuters) - Shares in Singapore Exchange Ltd (SGX) fell 8 percent following an unexpected move by India's three main stock exchanges to stop licensing products and data to foreign exchanges to prevent trading from migrating overseas.

In early Monday trade, SGX shares tumbled to the lowest since January 2017. The exchange said on Sunday that it will develop and launch new India-access risk products. SGX's Nifty 50 index futures is the Singapore bourse's flagship Indian equity derivatives product and is widely used by global market participants to gain offshore exposure and track Indian equity markets.

SGX Nifty 50 index futures tracks the National Stock Exchange's main index .


(Reporting by Anshuman Daga; Editing by Himani Sarkar)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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