An Indian court issued an injunction preventing The Singapore Exchange Limited from listing, offering or trading three new futures contacts based on India stock indices – SGX India Futures, SGX Options on SGX India Futures and SGX India Bank Futures – beginning today, as SGX had scheduled. The legal action was initiated by an affiliate of the National Stock Exchange of India. SGX had sought to list new contracts based on India stock indices after three India stock exchanges, including the NSE and Bombay Stock Exchange, had earlier this year determined to cease providing relevant data to foreign exchanges, including SGX (click here to access a relevant SGX announcement). SGX had intended to migrate its current parallel futures contracts to the new futures contracts to address this termination of data feed. In response to the Indian court's injunction, SGX apparently consented to arbitrate its dispute with the plaintiff, but separately announced it will continue to list its current India stock indices-referenced contracts until August 12 while contesting the court's decision. An arbitration resolution is expected by June 16. NSE was recently accorded Part 30 status by the Commodity Futures Trading Commission which potentially enables United States persons to access Nifty 50 futures contracts traded on the NSE through NSE members. (Click here for background in the article, "National Stock Exchange of India Granted Part 30 Relief" in the May 20, 2018 edition of Bridging the Week.)