The Cyprus Stock Exchange (CSE) has announced that it has held a meeting with senior officials from the National Stock Exchange of India at its headquarters in Nicosia.
The meeting marked a follow-up to the recent signing of a memorandum of understanding between the two stock exchanges. Representing the Indian side were Ashish Chauhan, Managing Director and Chief Executive Officer of NSE Group, and V Bala, Managing Director and Chief Executive Officer of NSE International Exchange.
According to the chairman of the CSE council Marinos Christodoulides, the partnership “falls within the broader framework of strengthening business and investment ties between Cyprus and India“. He said this “objective was clearly outlined during the official visit of the Indian prime minister Narendra Mondi to Cyprus the previous day”.
The CSE also stated that the collaboration between the two exchanges will explore possibilities for joint work in areas such as investment, the development of new financial products, and the dual listing of companies on both markets. “Both exchanges agreed to continue their efforts at a managerial and operational level to implement the memorandum of understanding in practice,” the announcement stated. The goal, the announcement continued, “is to ensure mutual benefits for both markets“.
It should be noted that the National Stock Exchange of India (NSE), headquartered in Mumbai, is a cornerstone of the Indian financial market, playing a key role in its modernisation and growth. It’s renowned for pioneering electronic trading in India in 1994, which significantly enhanced transparency and accessibility for investors nationwide. As of December 2024, the NSE, along with the Bombay Stock Exchange (BSE), contributed to India becoming the world’s fourth-largest stock market by combined market capitalisation. The NSE itself has a market capitalisation exceeding $5 trillion.
The NSE is also recognised as the world’s largest derivatives exchange by the number of contracts traded and the third largest globally in cash equities by the number of trades for the calendar year 2023. Its flagship index, the NIFTY 50, represents the performance of the top 50 leading companies and serves as a key indicator of India’s economic health.
Source: Cyprus Mail
