NSE-Cyprus Stock Exchange Pact: A New Era in Global Finance

The National Stock Exchange (NSE) International Exchange and the Cyprus Stock Exchange have inked a strategic Memorandum of Understanding (MoU) to promote cross and dual listings, a move designed to fortify bilateral capital market collaboration. This agreement was reached during Prime Minister Narendra Modi's visit to Cyprus, witnessed by Cypriot President Nikos Christodoulides at the economic roundtable event 'Advancing a Strategic Economic Partnership' in Limassol, Cyprus.

Reflecting on the collaboration, Prime Minister Modi expressed his satisfaction with the development, noting the strategic economic benefits of linking Indian and European capital markets through Gujarat's GIFT City. The NSE emphasized that this partnership aligns with India's vision of elevating GIFT City as a preeminent global financial center, further enhancing India's stature on the international financial stage.

The MoU is seen as laying the groundwork for a comprehensive cooperation framework between the NSE IX and CSE. It will emphasize aspects like cross-border financial listings, the joint creation of innovative products, collaborative knowledge and research ventures, and bolstered fintech engagement. Ashishkumar Chauhan, MD & CEO of the NSE, remarked on the MoU's potential to expand outreach programs and foster future engagements, signaling a promising chapter in Indo-Cypriot financial relations. V. Balasubramaniam, MD & CEO of NSE International Exchange, added that this partnership is strategic in forging a robust cross-border market infrastructure which promises to deliver sustained value to investors across the two regions.

(With inputs from agencies.)