NSE and LSEG to explore mutual licensing of indices, market access
28 Jul 2010
London Stock Exchange Group (LSEG) and India's National Stock Exchange (NSE) today signed a Letter of Intent to evaluate joint strategic business opportunities, and to co-operate together more closely in the future.
Under the agreement both exchanges declared their intent to explore the feasibility of an agreement whereby FTSE Group may licence the FTSE 100 Index to the NSE, and whereby the NSE may licence the S&P CNX Nifty (Nifty 50) to LSEG for the purpose of issuing and trading options and other index contracts.
It also conveys the intention of both parties to evaluate other joint strategic opportunities, such as allowing access to each other's market as and when regulatory framework permits.
Additionally, the two signatories will explore the possibility of holding joint training and education courses and seminars with a particular focus on small and medium sized enterprises (SMEs).
The letter of intent was signed in Mumbai by Xavier Rolet, chief executive of LSEG and Chitra Ramkrishna, joint managing director of the NSE, in the presence of the Hon George Osborne MP, the chancellor of the exchequer of the UK, who is leading a high profile British business delegation to India.
Speaking at the signing Xavier Rolet said, ''The letter of intent we have signed with the NSE today illustrates London Stock Exchange Group's commitment to India, and we believe it will lead to significant benefit for the customers and shareholders of our respective exchanges.
