Leading bourse NSE today entered into a pact with London Stock Exchange to set up a joint research centre as well as explore opportunities for collaboration in the GIFT City at Gujarat.
Among others, the Memorandum of Understanding (MOU) between the two exchange would look into further collaboration on indexes and debt market development.
"NSE and London Stock Exchange Group (LSEG) will conduct a joint feasibility study on the opportunities for collaboration in the GIFT City and will also explore the potential of establishing a trading platform in GIFT City," the National Stock Exchange (NSE) said in a statement.
Gujarat International Finance Tec-City (GIFT City) is set to be the country's first International Finance Services Centre (IFSC).
"The joint research centre, as proposed in the MOU, is expected to launch products and services on a range of capital markets matters," NSE CEO and managing director Chitra Ramkrishna said.
"It also aims to explore further collaboration between the group companies including in indexes and debt market development, within the prevailing regulatory framework," she added.
The pact was inked by Ramkrishna and London Stock Exchange Group CEO Xavier Rolet today in London.
"The Indian Prime Minister's landmark visit to the UK opened up a new chapter in the India-UK financial partnership," Rolet said.
"Through a true partnership with NSE, we can support the development of India's capital market infrastructure and financing opportunities for Indian corporates and infrastructure companies," Rolet added.
London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world.
Currently, over 40 organisations and exchanges use the Group's MillenniumIT trading, surveillance and post trade technology.
