December 24, 2024 05:36 am (IST)
Mumbai, Dec 9 (IBNS): Indian stock company exchange National Stock Exchange of India Ltd (NSE) on Wednesday announced that it has entered into a Memorandum of Understanding (MoU) with London Stock Exchange Group (LSEG).
The multi-dimensional MOU will ensure close collaboration between the two exchanges as they work towards setting up a joint research centre. The MoU also covers subsidiaries of NSE, with the objective of harnessing mutual synergies across various NSE and LSEG initiatives.
Chitra Ramkrishna, MD & CEO, NSE and Xavier Rolet, CEO, LSEG, signed the MoU in London on Wednesday.
The joint research centre, as proposed in the MOU, is expected to launch products and services on a range of capital markets matters. It also aims to explore further collaboration between the group companies including in indexes and debt market development, within the prevailing regulatory framework.
"The MOU can significantly contribute towards the growth of the Government of India’s SEZ initiative in the Gift City, Gujarat, which has been notified as India’s first International Finance Centre (IFC). NSE and LSEG will conduct a joint feasibility study on the opportunities for collaboration in the GIFT City and will also explore the potential of establishing a trading platform in GIFT City," an official statement claimed.
“India is one of the world’s fastest developing economies. Investors across the world are keen to increase their involvements and benefits from its growth story. The coming together of the two world-class exchanges, NSE and LSEG seek to establish strategic long term collaborations. NSE is committed to broaden and deepen financial markets through such partnerships,” said Chitra Ramkrishna, MD & CEO, NSE.
Xavier Rolet, CEO, London Stock Exchange Group said: "The Indian Prime Minister’s landmark visit to the UK opened up a new chapter in the India-UK Financial Partnership. We are honoured to welcome Chitra Ramkrishna and her team to sign this important Memorandum of Understanding. The NSE is a world-class exchange, a leader in India and Asia, with an ever increasing global footprint. London Stock Exchange Group offers the world’s most international financial market and through a true partnership with NSE, we can support the development of India’s capital market infrastructure and financing opportunities for Indian corporates and infrastructure companies.”
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