New Delhi [India], 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 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," 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."