BSE, India INX sign MoU with Moscow Exchange
The ultimate objective of the MoU is to connect the investors’ community and companies in both countries.
A memorandum of understanding was signed between Moscow Exchange (MOEX) and India's BSE (Bombay Stock Exchange) and The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC). The ultimate objective of the MoU is of connecting the investors’ community and companies in both countries and allowing a capital formation platform on a larger scale.
This will be the very first time that Indian exchanges will enter into the MoU with Moscow exchange. The memorandum was signed between the parties on April 3 2019 in Moscow. The ceremony was attended by Ashishkumar Chauhan, MD & CEO, BSE, and Alexander Afanasiev, CEO of MOEX, in the annual Exchange Forum in Moscow.
Pertaining the development, Chauhan said, “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”.
This is expected to lead to enhance the understanding of activities in each other's market. Moreover, the parties will conduct joint researches, to explore the area of cross-listing of Derivative products, ETF, dual listing and fixed income product cooperation.
The three exchanges have a mutual understanding of each other's market, in the premise of a bi-lateral investment. The Indian-Russian Initiative will be an important portal for professional intermediaries in both markets to share their know-how and expand their client network, both in their market and worldwide. The users of this initiative will have access to professional intermediary networks to benefit their development and cross-border operation.
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