The new products will be called India futures and India options, and SGX will use the closing Nifty price to settle its new contracts. The move was triggered by SGX’s decision to introduce futures contracts on top 50 Indian stocks from 5 February, even as the Singapore exchange has gradually expanded its market share in Nifty futures trading to 52%. “The US Commodity Futures Trading Commission’s approval for direct market access to the India Futures and India Options in the US has been obtained. Its clients can continue to punt on Nifty futures, and it doesn’t even need to pay NSE any licensing fees. “It’s a nifty move by SGX,” said an executive at an international exchange, asking not to be identified.

Source: Mint April 11, 2018 07:29 UTC