Bombay Stock Exchange (BSE) and The India International Exchange (IFSC) Limited (India INX), India’s first international exchange based in the International Financial Services Centre (IFSC) on April 3, 2019, signed a memorandum of understanding (MoU) to collaborate with regards to maintain a orderly securities markets in India and Russia. Speaking at the signing ceremony which took place at the annual exchange forum in Moscow Ashishkumar Chauhan, MD and CEO, BSE said: “BSE, India Inx and MOEX are collaborating together to facilitate the development of channels of communication. We strongly believe together we would foster a continuing relationship for the benefit of the financial services industry in India and in Russia”.

With this the BSE, India INX has become the first Indian exchanges to sign a MoU with Moscow Exchange. With the collaboration, BSE, India INX and MOEX feel the initiative between India-Russia Portal would boost professional intermediaries in both markets to share their know-how and expand their client network in their home market and abroad. With that the exchange companies would also conduct joint research to explore the possibility of further cooperating in the area of cross-listing of derivative products, ETF, dual listing and fixed income product cooperation, stated the circular. All in all, the initiative would also open up a community of professional intermediary networks to benefit their development and cross-border operation.