Shanghai Stock Exchange (SSE)'s court case against index
provider FTSE/Xinhua (FXI) began in China last week, following
the failure of the two parties to reach an out of court
settlement. The outcome could have a significant impact on
prospects for Singapore Exchange (SGX)'s Chinese equity index
future, launched last month (see FO Week Vol 11 No 36).
An FXI spokesperson told FO Week that SSE's
complaint was related to the index provider's right to maintain
calculation of Chinese indices. If it lost this right, SGX's
contract could risk being delisted, because it has taken FXI's
China A50 index as its underlying. The spokesperson also
confirmed that the court case began on 11 October.
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