Hedge funds investing in India were perfectly happy with SGX Nifty futures; and NSE earned a license fee from SGX. But in February, NSE and two other Indian bourses ganged up, and said they wouldn't allow their prices to be used in overseas contracts. NSE gave SGX six months to wind up an 18-year-old product.MSCI Inc. lashed out against the move, saying it could threaten India’s emerging-market classification. Its new contracts would merely take published settlement prices of NSE’s contracts on the last Thursday of every month and be called SGX India futures. Come June 4, there will be no SGX Nifty.

Source: Economic Times May 23, 2018 08:15 UTC