The exchanges will explore dual listings, new products and trading links spanning equities, bonds and ETFs, including derivatives tied to FTSE Russell indices.
NSE IFSC and the London Stock Exchange have signed a memorandum of understanding that could pave the way for closer ties between two major financial centres, with the exchanges saying they will explore dual and cross-listings, new products and wider market connectivity.
According to the announcement, the agreement is intended to open commercial opportunities across equities, fixed income and exchange-traded funds, while also examining the possibility of derivative contracts on NSE IFSC linked to FTSE Russell indices. The two exchanges also plan to look at new equity indices, cross-border trading links and the distribution of market data.
V. Balasubramaniam, the managing director and chief executive of NSE IFSC, said the pact grew out of broader India-UK economic discussions, including the Comprehensive Economic and Trade Agreement, which he said could create new avenues for capital-market integration and financial services links between London and India. He said the two exchanges were taking an initial step towards bidirectional trading opportunities that could broaden investor participation and deepen liquidity.
Balasubramaniam added that NSE IFSC’s position in the GIFT IFSC ecosystem and the London Stock Exchange’s long-standing role in the UK market made the tie-up timely. On the British side, Dame Julia Hoggett, chief executive of London Stock Exchange plc and head of digital and securities markets at LSEG, said the exchange had a long record of working with partners around the world and welcomed the chance to strengthen its relationship with NSE IFSC.
The agreement comes as exchanges globally seek to widen access for issuers and investors beyond their domestic markets, particularly through cross-listings and product partnerships. If developed further, the collaboration could create a more direct channel between Indian and UK capital markets, although the announcement stops short of setting a timetable for specific launches.
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