India's biggest equity bourse, the National Stock Exchange, and Britain's London Stock Exchange Group have entered a tieup to set up a multi-dimensional joint research centre in India. The MoU, which was signed between two of the world's biggest stock exchanges on Wednesday, is expected to significantly aid the growth of the Government of India's SEZ initiative in Gift City, Gujarat, India's first Smart City and International Finance Centre (IFC).
As part of the agreement, the two exchange groups will launch a variety of products and services on a range of capital markets matters. The two exchanges will conduct a joint feasibility study post signing of the agreement on the opportunities for collaboration in the GIFT City with the possibility of setting up a trading platform at IFC.
The joint research centre proposed in the MOU is also expected to launch products and services. It also envisages further collaboration for development of indices and debt market within the existing regulatory framework.
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