Singapore Overtaking Mumbai for India Futures With Longer Trading Hours, Influx of Cheaper South Asian Traders
Bloomberg, 21 Sep 2014
Singapore is overtaking Mumbai as the biggest market for Indian stock-index futures, a sign of foreign investors’ growing influence over equities in the world’s second-most populous nation.
The CHART OF THE DAY shows open interest, or the number of outstanding contracts, for CNX Nifty Index futures on the Singapore Exchange Ltd. climbed 55 percent during the past four years to about 345,000. That compares with a 60 percent decline for similar contracts traded on the National Stock Exchange of India Ltd., according to data compiled by Bloomberg. Singapore is luring foreign investors with longer hours and lower trading costs, Kotak Institutional Equities said in a report this month. Full story