Singapore Exchange extends SGX Nifty trade beyond August

The Singapore Exchange (SGX) today said the arbitrator has allowed the bourse to continue the listing and trading of SGX Nifty contracts beyond August 2018.
An arbitrator appointed to decide on a row between India’s National Stock Exchange and SGX over Indian stock futures contracts ordered them to extend their licensing agreement beyond August, and for at least two months after the end of arbitration.
“As part of ongoing arbitration proceedings, SGX and India Index Services and Products Ltd (IISL) were directed by order dated 14 June 2018, passed by the Learned Arbitrator, to facilitate the continued listing of SGX Nifty products for at least two successive contract month maturations beyond the arbitration's completion date,” SGX said in a statement today.
SGX has been directed to refrain from offering new India equity derivatives products such as those announced on 11 April 2018, in accordance with the order.
Arbitration proceedings are continuing and the hearings on evidence are expected to commence in early 2019, said SGX, adding that it will provide updates to the market in due course.
SGX has been engaged in proceedings in the Bombay High Court since 23 May 2018.
The SGX Nifty contracts were to trade until August, as contractually provided for under SGX's licence agreement with IISL. 
Three Indian bourses, National Stock Exchange, BSE and Metropolitan Stock Exchange of India, in February announced stopping immediately the trading of indices of Indian securities on foreign bourses as part of a joint effort to stem liquidity flows to overseas markets.
The move came after Singapore Stock Exchange (SGX) launched trading in single-stock futures in 50 of India's top companies that are part of the Nifty index.