India's NSE Seeks Singapore Delay on Stock Futures
- SGX plans to start contracts on Feb. 5, subject to approval
- Two exchanges still discussing partnerships in other areas
The National Stock Exchange of India Ltd., operator of the country’s biggest bourse, is asking Singapore Exchange Ltd. to delay the planned introduction of single-stock futures that would track some of the subcontinent’s largest companies, according to people familiar with the matter.
NSE’s request comes as domestic stock-derivatives volume has slipped, said the people, who asked not to be named because the talks are private. While SGX has informed some of its clients of a possible Feb. 5 launch, subject to regulatory approval, NSE is seeking the delay to buy it time as it attempts to arrest the slide back home, the people said. India’s budget on Feb. 1 may offer some incentives for exchanges and foreign investors, the people said without being more specific.