Singapore, India Exchanges Abandon Trade Link Talks
- Exchanges failed to agree on timing for Gujarat venture
- NSE sued SGX in bid to stop June 4 launch of India futures
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Singapore Exchange Ltd. and National Stock Exchange of India Ltd. have abandoned talks on a cross-border trading link, according to people familiar with the matter, amid a bitter court battle that’s soured an 18-year partnership.
The companies couldn’t reach consensus on issues including timing, regulatory guidelines and the resources required for the project, according to the people, who asked not to be identified because the talks were private. The venture would have seen traders in Singapore buy and sell derivatives on exchanges in the Gujarat tax-free zone known as Gift City. Officials from NSE and SGX declined to comment.