After long failing to act on foreign investor complaints, Indian policy makers find themselves in an ironic bind: As global interest in Indian derivatives surges, it is Singapore, not Mumbai, that is reaping the benefits.
In a turnaround from past years, more stock futures and options based on Nifty are traded in Singapore than India. Billions of dollars in rupee derivatives traded from the city state nearly equal the amount of spot currency traded in India. Deals in Indian debt derivatives are close to volumes in Indian markets. Full story
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As India derivatives demand surges, it is Singapore that benefits - Reuters
