To boost collaboration between companies in both countries
MUMBAI: BSE, India’s premier exchange and the world’s fastest stock exchange with a speed of 6 microseconds and The India International Exchange (IFSC) Ltd (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, a BSE official statement said.
BSE and India INX are the first Indian exchanges to enter into an MoU with Moscow exchange. The MoU has been signed between the parties on Wednesday, April 3, 2019 in Moscow.
The signing ceremony with 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 Ashishkumar Chauhan said BSE, India Inx and MOEX are collaborating to facilitate the development of channels of communication.
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 investments.
The official statement said 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 crossborder operation,” the statement added.
BSE is a corporatized and demutualised entity, with a broad shareholder base that includes the leading global exchange- Deutsche Bourse, as a strategic partner. BSE provides an efficient and transparent market for trading in equity, debt instruments, equity derivatives, currency derivatives, interest rate derivatives, mutual funds and stock lending and borrowing. BSE also has a dedicated platform for trading in equities of small and medium enterprises (SMEs) that has been highly successful.
India INX, a wholly-owned subsidiary of BSE Ltd, commenced its trading activities on January 16, 2017 and is India’s first International exchange set up at GIFT City. It is one of the world’s most advanced technology platforms with a response time of 4 micro seconds and operates for 22 hours a day to allow international investors to trade from anywhere across the globe.