LSE, NSE sign deal

The Ludhiana Stock Exchange (LSE) yesterday signed a memorandum of understanding with the National Stock Exchange (NSE), which will enable the former to trade on the NSE platform in the securities listed and permitted on the NSE.

In addition, nationwide access will be provided to LSE-listed securities. Also, the members can issue contract notes and their status will be elevated from 'sub-broker' to member broker.

Trading will be resumed on the floor of Ludhiana Stock Exchange. "For approval of this arrangement, permission has been sought from the Securities and Exchange Board of India (Sebi) and it is hoped that the same will be received soon," said LSE Executive Director HS Sidhu.

Sidhu from LSE and NSE Managing Director Ravi Narain signed the agreement. LSE Director RK Bansal signed as the witness.