Gandhinagar: Following suit of BSE Ltd the National Stock Exchange (NSE) will also set up an international exchange in the GITF city here.

NSE today signed an agreement (MoU) in this regard with the CEO of GIFT, the first International Financial Services Center (IFSC), Ajay Pandey. The bourse will set up the International exchange and an international clearing corporations on the lines of BSE ltd, with an estimated investment of Rs 500 crore.

The MoU was signed during the Vibrant Gujarat Global Summit in presence of Union Minister of State for Finance Arjun Ram Meghwal, RBI governor Urjit Patel and Deputy Chief Minister cum Finance Minister of Gujarat Nitin Patel.

The BSE also formally singed the MoU regarding its international exchange and international clearing corporation, inaugurated by prime minister Narendra Modi on January 9. Apart from the MoU regarding setting up of the exchange and investment of Rs 500 crore, the BSE also singed another agreement to set up an institute to launch and conduct programmes on financial markets.
Notably, the BSE international exchange in GIFT city is the fastest in the world and the first International exchange in the country. The NSE exchange will be the only second such exchange in India.

Leading commodity exchange of private sector MCX also singed an MoU on the occasion for setting up of a full fledged business continuity facility in the GIFT city.

DeshGujarat