LSE and NSE sign agreement to evaluate joint business opportunities
Cameron claims another business victory on tour of India as stock exchanges sign letter of intent
London Stock Exchange Group (LSEG) and India's National Stock Exchange (NSE) have signed a letter of intent to evaluate joint strategic business opportunities, and to co-operate together more closely in the future.
As part of the letter, both exchanges declared their intent to explore the feasibility of an agreement whereby FTSE Group may license the FTSE 100 Index to the NSE, and whereby the NSE may license the S&P CNX Nifty (Nifty 50) to LSEG for the purpose of issuing and trading options and other index contracts.
It also conveys the intention of both parties to evaluate other joint strategic opportunities, such as allowing access to each other's market as and when regulatory framework permits.
Xavier Rolet, CEO of LSEG, said: "We are optimistic about India's remarkable growth story and feel strongly that a business relationship with India's leading stock exchange opens exciting investment opportunities for Indian investors in international companies, as well as giving international investors greater opportunities to participate in India's growth."
Chitra Ramkrishna, joint managing director of the NSE, said: "We are confident that the letter of intent with the London Stock Exchange will open up newer investment opportunities for Indian investors and expand the bouquet of investible instruments NSE platform provides. We also hope to draw upon the expertise of LSE in the SME segment for the benefit of Indian SMEs and investors."