Shanghai Bourse Unit Sues Xinhua/FTSE Index

News Type: Event — Seeded on Mon Aug 28, 2006 11:28 AM EDT

Article Source: Wall Street Journal

business, china, media, finance, data, singapore, shanghai, index, xinhua, ftse, data-broker

Fredy Bush gets into the thick of the fight.

SHANGHAI (Dow Jones)--SSE Infonet Ltd., a data management unit of the Shanghai Stock Exchange, has filed a lawsuit against Xinhua/FTSE Index in a Shanghai court, an official at the unit who declined to be named said Monday.

The official didn't give a reason for the lawsuit, but analysts said the move is aimed at blocking Singapore Exchange Ltd.'s (S68.SG) plan to launch a stock index futures contract based on China's A-share index in September.