CSE, India’s National Stock Exchange sign MoU on collaboration
View(s):The Colombo Stock Exchange (CSE) and the National Stock Exchange of India Ltd (NSE) have signed a memorandum of understanding (MoU) focused on exploring opportunities to work together and co-operate with each other to foster a deeper and more strategic relationship.
The MoU was signed at the CSE on Tuesday by CSE Chairman Ray Abeywardena and Vikram Limaye, Managing Director and Chief Executive Officer, NSE.
The MoU enables cooperation on the exchange of information and expertise and also paves the way for NSE to play a consultative role in a number of strategic initiatives implemented by the CSE, including in the area of new product development and exchange operations, the CSE said in a media release.
Commenting on the MoU, CSE Chairman Mr. Abeywardena said: “The move formalizes and paves the way to strengthen what is already a strong relationship of collaboration between the CSE and NSE. The new avenues for cooperation created as a result of this MoU will add value to the Sri Lankan capital market. NSE is a leading stock exchange in the region and is in prime position to offer valuable perspective and guidance to the CSE, as we pursue growth initiatives to further develop the exchange and build on our strengths.”
NSE’s Mr. Limaye said: “The NSE has built world class market infrastructure solutions across asset classes that could service requirements of the entire spectrum of investors from retail to institutional to traders. India is one of the fastest growing markets in terms of investor participation and volumes. Market eco-systems in South Asia have significant commonalities and collaboration between NSE and CSE could leverage NSE’s experience in building robust markets to provide further impetus to the growth of Sri Lankan capital markets. NSE and CSE have collaborated over the years and I am confident that this MoU will take the relationship to the next level and would benefit capital markets in both the countries.”
NSE is the leading stock exchange in India and the third largest in the world by the number of trades in equity shares in 2017, the CSE said quoting international data.