February 12, 2018 / 1:18 AM / 2 months ago

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

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)

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