London exchange, NSE set to tango
Indian investors will be able to invest in FTSE 100, the premier index of London Stock Exchange, in three months’ time.business Updated: Jul 28, 2010 20:53 IST
Indian investors will be able to invest in FTSE 100, the premier index of London Stock Exchange, in three months’ time.
LSE signed a letter of intent with the National Stock Exchange (NSE) of India to evaluate the cross listing of FTSE 100 at the NSE and of S&P CNX Nifty (Nifty 50) at LSE.
Both the exchanges on Wednesday also agreed to evaluate joint strategic business opportunities and co-operate more closely in the future.
While the details are still being worked out, the two exchanges will initially look for the trading of options followed by trading of futures sometime later. They will also explore the possibility of educating and creating awareness on small- and medium-sized enterprises.
The letter of intent was signed by Xavier Rolet, chief executive LSE and Chitra Ramkrishna, joint managing director, NSE. “We are confident that the letter of intent with the LSE will open up newer investment opportunities for Indian investors (in the UK) and expand the bouquet of investible instruments NSE platform provides,” Ramkrishna said.