Volumes have fallen even further since last year after a crash penny stocks - the bourse's most actively traded shares. - AFP
SINGAPORE: A shock decision by Indian exchanges to cut ties with their offshore counterparts sent shares of Singapore Exchange Ltd (SGX) falling by the most in nine years and raised questions about how the world’s second-most populous nation will fit in with the global financial system.
The National Stock Exchange of India Ltd (NSE), together with other Indian markets, said on Friday night that they would end all licensing agreements with foreign bourses and stop offering live prices to overseas venues. The steps will make it impossible for SGX to keep its derivatives based on India’s benchmark Nifty 50 Index, which are among its flagship products.
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