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Arbitration begins in NSE-SGX matter

| | New Delhi | in Sunday Pioneer

The high powered arbitration in the matter of the National Stock Exchange (NSE) and Singapore Exchange (SGX) commenced on Saturday, people close to the development said.

The matter is related to a dispute between the NSE and SGX over the latter's plan to launch Nifty-based products in June.

The arbitration in the NSE-SGX case commenced before Justice Vazifdar, they said.

Last month, the Bombay High court had barred SGX from launching new India derivative products and referred the case to arbitration — to which the Singapore bourse agreed.

It is believed that the Indian exchange in its argument said that the  new products of SGX are identical to the existing ones and based on the very same underlying. In fact, every feature of the products and the terms of the products are identical.

The exchange also said that existing exposure and open positions are openly being sought to be migrated to the new products, showing homogeneity, according to people close to the development.




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AK 56 recovered in Garu village

19 Jun 2018 | PNS | DALTONGANJ

214 Battalion of CRPF and Latehar district police on Monday recovered one AK56, said Commandant of 214 battalion of CRPF Ajay Singh. Sources said it has been recovered at village Kuyee under Garu police station which is a kendu leaf hub and here the stake of the extremists be they are CPI Maoists or JJMP is too high...

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