The National Stock Exchange (NSE) on Monday signed an agreement with Nasdaq to source technology for offering real-time clearing, risk management, and settlement technology. The new post-trade technology will replace NSE\u2019s current clearing and settlement system operated by National Securities Clearing Corporation Limited (NSCCL), a wholly owned subsidiary of NSE. The technology will provide a state-of-the-art architecture utilising the Nasdaq Financial Framework, which will enable all asset classes to be cleared and settled in one system, the two exchanges said in a joint statement. NSE managing director and chief executive officer Vikram Limaye said the technology would have to be customised to meet Indian regulatory requirements, and the rollout could take anywhere between 24 and 36 months. Both the exchanges will also work with the regulator on the dual listing. Limaye further said NSE would customise the Nasdaq platform as per its requirements and these customisations will not be shared with other exchanges, including those in India if Nasdaq enters into an agreement with them. \u201cWe will use this new partnership to bring Nasdaq\u2019s premium market technology, the Nasdaq Financial Framework, to the Indian capital market and to explore new opportunities for collaboration across each other\u2019s businesses. Additionally, we look forward to our partnership with NSEIT to work together to expand our technology delivery capabilities,\u201d said Adena Friedman, president and CEO of Nasdaq. Both the exchanges also signed a Memorandum of Understanding (MoU) to explore business opportunities across listings, corporate and market services and data and innovations in products, processes and technology.