Active Stocks
Thu Mar 28 2024 15:29:14
  1. Tata Steel share price
  2. 156.10 2.13%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,446.65 0.41%
  1. ITC share price
  2. 427.85 -0.04%
  1. Power Grid Corporation Of India share price
  2. 277.15 2.25%
Business News/ Opinion / Online-views/  BSE refutes reports of legal action against SGX
BackBack

BSE refutes reports of legal action against SGX

BSE refutes reports of legal action against SGX

Premium

Mumbai: Stressing that both the bourses share a strong and long-standing relationship, the Bombay Stock Exchange (BSE) on Wednesday called reports of it planning legal action against the Singapore Exchange (SGX) as “inaccurate".

The two bourses in a joint statement said news reports published on Wednesday about BSE planning to take legal actions against SGX were inaccurate and without basis.

The clarification comes amid reports that BSE could sue SGX for launching Nifty options, breaching terms of an agreement through which the Singapore bourse acquired a 5% stake in the former in 2007.

Further, the statement noted that the investment agreement in 2007 “clearly contemplates the launch of Nifty-related products, including Nifty options, by SGX."

“SGX has a strong and long-standing relationship with the BSE... Both the exchanges are in dialogue on various business areas, exploring opportunities that are mutually beneficial to both markets," it said.

Options based on S&P CNX Nifty are expected to start trading on SGX from next month.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Business News, Market News, Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Published: 19 Jan 2011, 07:57 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App