Blitz Bureau
IN a landmark development, NSE International Exchange (NSE IX), located at GIFT City, Gandhinagar, has signed a Memorandum of Understanding (MoU) with the Cyprus Stock Exchange (CSE).
Held during the visit of Prime Minister Narendra Modi to Cyprus and graced by Nikos Christodoulides, President of the Republic of Cyprus, the MoU was formalised during a roundtable event, at Limassolin in Cyprus on June 16.
The MoU, said a press release, lays the foundation for multifaceted cooperation between NSE IX and CSE, focusing on: cross and dual listings of financial instruments; joint development of innovative financial products; knowledge and research collaboration; capacity building and training initiatives; and fintech engagement and outreach programmes The strategic partnership underscores growing interest in connecting Indian and European capital markets via GIFT City and reinforces India’s ambition to position GIFT City as a leading global financial hub.
PM Modi remarked during the event: “I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat’s GIFT City.” Ashishkumar Chauhan, MD & CEO, NSE, noted during the ceremony: “This MoU paves the way for collaboration in dual and cross listings, joint development of innovative financial products, and cooperation in research, training, and capacitybuilding initiatives.
V Balasubramaniam, MD & CEO, NSE International Exchange, added: “NSE IX’s collaboration with the Cyprus Stock Exchange is a strategic step towards building robust crossborder market infrastructure.”
