NSE IX signs MoU with Cyprus stock exchange to boost cross-border market ties

The NSE International Exchange (NSE IX), based in GIFT City has signed a memorandum of understanding (MoU) with the Cyprus Stock Exchange (CSE).

The strategic partnership was formalized during Prime Minister Narendra Modi’s state visit to Cyprus and witnessed by Cyprus President HE Nikos Christodoulides, during a high-level roundtable titled “Advancing a Strategic Economic Partnership” in Limassol.

This MoU aims to enhance bilateral capital market collaboration through a range of initiatives, including cross and dual listings of financial instruments, joint development of innovative financial products, fintech engagement, and mutual research and training programs.

It also marks a symbolic push to connect the Indian capital markets with their European counterparts through the emerging global financial hub of GIFT City.

Welcoming the development, Prime Minister Modi said, “I am pleased to know that the Cyprus Stock Exchange and NSE have agreed to collaborate in Gujarat’s GIFT City,” underlining the significance of the partnership in India’s broader goal to internationalize its financial markets.

Ashishkumar Chauhan, Managing Director and CEO of the National Stock Exchange, called the MoU a milestone agreement. “This paves the way for collaboration in dual and cross listings, innovative product development, and shared research, training, and outreach initiatives. It also promotes broader global investor access through GIFT City,” Chauhan said.

V Balasubramaniam, MD & CEO of NSE IX, emphasized the strategic importance of the agreement. “This collaboration with the Cyprus Stock Exchange is a key step in building robust, cross-border market infrastructure. It reflects a shared vision to enhance international financial connectivity and drive value for investors and institutions in both India and Europe,” he said.

As India positions GIFT City as a global financial hub, this partnership is expected to open new avenues for capital flows, technology exchange, and financial innovation, particularly by leveraging Cyprus’s gateway status in the European Union.