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The arbitration award in the dispute between the NSE and the SGX is likely to happen during the first week of February 2019.
In the interim, the injunction against the SGX for launching new India products continues, the NSE said on Monday.
“...the Tribunal has fixed the final dates for Arbitration and the award is expected by the first week of February, 2019. The SGX has been restrained from launching or listing any new derivative products linked to IISL Indices or NSE and NSE IFSC equity derivative products for a period of three weeks from the final arbitration award and the existing license for the SGX Nifty contracts will stand extended for two successive contract months beyond the final arbitration award,” an NSE release said. Meanwhile, the arbitrator appointed by the Bombay High Court has directed the NSE to extend the agreement of Nifty-licensed products to the SGX until the arbitration concludes. The licensing agreement was to end in August 2018.
The Bombay High Court injunction was against three products that the SGX proposed to launch this month. These are SGX India Futures, SGX Options on SGX India Futures and SGX India bank futures.
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