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Key Points

NSE International Exchange and Cyprus Stock Exchange signed a strategic MoU during PM Modi's visit to Cyprus. The agreement aims to enhance cross-border listings and financial collaboration via Gujarat's GIFT City. NSE CEO Ashishkumar Chauhan called it a milestone in India-Cyprus economic ties. The partnership will drive innovation and investor access between European and Indian markets.

Key Points: NSE IX and Cyprus Stock Exchange Sign MoU During Modi Cyprus Visit

  • MoU enables cross-listings and financial innovation between India and Cyprus
  • Signed during PM Modi's Cyprus visit with President Christodoulides
  • Focus on GIFT City as global financial hub
  • Includes fintech collaboration and investor access initiatives
2 min read

NSE IX signs MoU with Cyprus Stock Exchange to enhance bilateral capital market collaboration

NSE International Exchange partners with Cyprus Stock Exchange to boost cross-listings and capital market ties via GIFT City during PM Modi's Cyprus visit.

"This partnership marks a new chapter in India-Cyprus financial cooperation - Ashishkumar Chauhan, NSE CEO"

New Delhi, June 16

The NSE International Exchange and Cyprus Stock Exchange signed a strategic Memorandum of Understanding (MoU) with an aim to enable Cross and Dual Listings and to enhance bilateral Capital Market Collaboration.This MoU was signed during Prime Minister Narendra Modi's visit to Cyprus and in presence of Nikos Christodoulides, President of the Republic of Cyprus, during the roundtable event "Advancing a Strategic Economic Partnership" in Limassol, Cyprus.During the event, PM Modi remarked, "I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat's GIFT City.""This strategic partnership underscores growing interest in connecting Indian and European capital markets via GIFT City and reinforces India's ambition to position GIFT City as a leading global financial hub," NSE said in a release.

According to NSE, this MoU lays the foundation for multi-faceted cooperation between NSE IX and CSE, which will focus on various aspects such as cross and dual listings of financial instruments, joint development of innovative financial products, knowledge and research collaboration, capacity building and training initiatives, and fintech engagement and outreach programs.

"It (MoU) opens doors for outreach programs and future engagements in other areas of mutual interest. This partnership marks a new chapter in India-Cyprus financial cooperation, involving India's GIFT City as an international financial services center and promoting capital market innovation and global investor access for both countries," said Ashishkumar Chauhan, MD & CEO, NSE.

Additionally, V. Balasubramaniam, MD & CEO, NSE International Exchange, said, "NSE IX's collaboration with the Cyprus Stock Exchange is a strategic step towards building robust cross-border market infrastructure. With our shared vision of enhancing international financial connectivity, this MoU will drive long-term value for investors and institutions across Europe and India."

- ANI

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Reader Comments

Here are 6 diverse Indian perspective comments for the article:
R
Rahul K.
This is a smart move by NSE! GIFT City is becoming India's gateway to global finance. More such partnerships will help attract foreign investment and strengthen our economy. Kudos to PM Modi for pushing these international collaborations during his visit. 🇮🇳
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Priya M.
Interesting development, but I hope this benefits retail investors too, not just big institutions. Would love to see more affordable international investment options for middle-class Indians through these partnerships.
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Amit S.
Cyprus might be small, but it's a financial hub in EU. This MoU could be our bridge to European markets. Smart strategy to position GIFT City as alternative to Dubai/Singapore. Hope to see more such tie-ups!
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Neha V.
While this sounds promising, I hope proper safeguards are in place. Cyprus has had issues with money laundering in past. We must ensure such collaborations don't become backdoors for illegal fund flows.
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Sanjay P.
Great initiative! This will help Indian companies access European capital more easily. GIFT City is finally getting the attention it deserves. Next step - similar agreements with London and Frankfurt exchanges?
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Kavita R.
As someone working in finance sector, I see huge potential here. The knowledge exchange and fintech collaboration aspects are particularly exciting. Hope this leads to more job opportunities in GIFT City for young professionals.

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