Indian, Sri Lankan stock exchanges to work together
ECONOMYNEXT – The Colombo Stock Exchange (CSE) and the National Stock Exchange of India Limited (NSE) have struck a deal to explore opportunities to work together and co-operate with each other.
A memorandum of understanding (MoU) signed between them aims to foster a deeper and more strategic relationship, a CSE statement said.
NSE is the leading stock exchange in India and the third largest in the world by numbers. of trades in equity shares in 2017.
The MoU calls for 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 MoU was signed at the CSE Tuesday by CSE Chairman Ray Abeywardena andVikram Limaye, Managing Director and Chief Executive Officer, NSE.
“The move formalizes and paves the way to strengthen what is already a strong relationship of collaboration between the CSE and NSE,” Abeywardena said.
“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.”
Limaye said 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.
“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.”
(COLOMBO, April 03, 2018)