MUMBAI: Bombay Stock Exchange (BSE), India’s premier exchange and The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC), has signed a memorandum of understanding (MoU) with Moscow Exchange (MOEX) with an aim of connecting the investors’ community and companies in both countries and allowing a capital formation platform on a larger scale.
BSE and India INX are the first Indian Exchanges to enter into the MoU with Moscow exchange.
The memorandum of understanding has been signed between the parties on April 3, 2019 in Moscow. The signing ceremony with Shri Ashishkumar Chauhan, MD & CEO, BSE, and Alexander Afanasiev, CEO of MOEX, took place as part of the annual Exchange Forum in Moscow.
Speaking on the occasion Shri Ashishkumar Chauhan, MD & CEO, BSE, said “BSE, India Inx and MOEX are collaborating together to facilitate the development of channels of communication. We strongly believe together we would foster a continuing relationship for the benefit of the financial services industry in India and in Russia”.
The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other’s market. The parties shall conduct joint research to explore the possibility of further cooperating in the area of cross-listing of Derivative products, ETF, dual listing and fixed income product cooperation.
BSE, India INX and MOEX feel that mutual understanding of each other’s market is the premise for bi-lateral investment. They will use the India-Russia Initiative as an important portal for professional intermediaries in both markets to share their know-how and expand their client network in their home market and abroad. Users of the India-Russia Initiative can have access to a community of professional intermediary networks to benefit their development and cross-border operation.[the_ad id=”31605″]