Currently, Indian stock exchanges through a licensing arrangement provide their market data at various levels to index providers for creating Indices. Singapore Stock Exchange (SGX), however, on Sunday said its entire India suite of products, including Nifty, will open and operate per normal on Monday. Shares of SGX dropped over 7 per cent to SGD 7.32 today.
Some 9.2 million shares changed hands, making it one of the most active counters on the Singapore bourse in early morning trade. Analysts have kept their ratings on SGX unchanged on Monday as the stock fell 7.1% amid doubts about the future of the market operator's Indian equity index-linked derivatives, according to Business Times.
"We have not yet had an opportunity to analyse the implications of this announcement, but it appears likely to disrupt trading on numerous exchanges around the world and alarm international investors," said FIA, a leading trade association for the global listed and cleared derivatives markets.
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