Expert: Robert Webb

Description: We provided expertise on financial futures’ markets in the context of the dispute between the stock exchanges in India and the SGX. In early 2018, The National Stock Exchange, the Bombay Stock Exchange and the Metropolitan Stock Exchange—the three dominant Indian stock exchanges– announced a joint decision to stop licensing any indices or securities to foreign exchanges and/or stop providing data to foreign exchanges that would facilitate the trading of derivative securities linked to the Indian market on exchanges outside India.  On April 11, 2018, the SGX announced that it would delist six licensed derivative contracts on the Indian equity market effective June 1, 2018 ( the NIFTY 50 Index futures; NIFTY 50 Index options; NIFTY Bank Index futures; NIFTY IT Index futures; NIFTY CPSE (Central Public Sector Enterprises) Index futures; NIFTY Midcap 50 Index futures) and introduce three new unlicensed derivative contracts linked to the Indian equity market to replace them.