BSE, India INX become first Indian exhanges to join hands with Moscow Exchange

By: | Published: April 4, 2019 5:54 PM

The leading Indian exchange BSE and its wholly-owned arm India INX have entered into an MoU with the Russian bourse Moscow Exchange. First time when any Indian exchange joined hands with Moscow Exchange.

Stock Market, Share Market Live, Stock Market Live, Nifty Live, NSE live, BSE live, Live Market Update, Market Today, Indian Share Market Live, Indian Stock Market Live, स्टॉक मार्केट, शेयर बाजारIndian exchanges BSE and India INX  join hands with Moscow exchange

The leading Indian exchange BSE and its wholly-owned arm India INX have entered into a memorandum of understanding or MoU with the Russian bourse Moscow Exchange (MOEX), a move that will help both the countries in connecting their investors and facilitating a capital formation platform on a larger scale.

This is the first time when any Indian exchange has entered into an agreement with a Russian exchange. The purpose behind entering into this MoU is to develop a greater understanding of each other’s markets which will also lead to further collaboration between the exchanges,  called the India-Russia initiative.

The MoU was signed between all the exchanges on Wednesday in Moscow. In order to attain a deeper understanding of each other’s markets, all the three exchanges- BSE, India INX and MOEX have mutually agreed to temporarily transfer their senior personnel amongst themselves.

Besides that, the companies will also conduct collaborative research to further explore the possibility of cooperating in other areas such as cross-listing derivative products, exchange-traded funds (ETFs), fixed income product cooperation and dual listings. The signing ceremony was attended by Ashishkumar Chauhan, Managing Director and Chief Executive Officer(CEO) of BSE, and Alexander Afanasiev, CEO of MOEX as part of the annual Exchange Forum in Moscow.

“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,” Ashishkumar Chauhan of BSE said.

The MoU between the three countries will help in understanding each other’s markets which will eventually become the foundation for bilateral investment. The three exchanges will use the initiative announced on Wednesday as a portal for professional intermediaries to share their experience in order to expand their client network, both within their country 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,” according to the statement by MOEX.

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