NSE IFSC and London Stock Exchange sign MoU on cross-listings
The move
NSE IFSC Ltd and the London Stock Exchange (LSE) signed a memorandum of understanding on October 13, 2026, to explore cooperation across listings, trading and financial products. The agreement brings India's GIFT IFSC financial market and London's capital markets into closer discussions on cross-border opportunities.
The proposed areas of cooperation include dual and cross-listings, derivatives linked to FTSE Russell indices, joint index development and improved trading connectivity. The exchanges will also explore opportunities involving fixed-income securities, equities and exchange-traded funds (ETFs), as well as broader distribution of market data.
No launch dates or confirmed implementation plans have been announced for the proposed initiatives. Their eventual scope will depend on further discussions, product development and applicable regulatory requirements.
What the company does
NSE International Exchange (NSEIX) was established in 2017 in GIFT City, Gujarat. It offers access to a diverse set of international-market products, including Indian single stock and index derivatives, currency derivatives, depository receipts, global stocks and debt securities.
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GIFT IFSC is intended to provide a base for international financial services from India.
What the MoU could mean for investors and companies
An MoU does not of itself create new listings, derivative products or access to new markets. For now it creates a framework for collaboration between NSE IFSC and LSE, with specific measures to be decided between the two parties. The value of the agreement depends on which specific proposals are accepted and when they might come into effect.
For companies, potential cross-listing opportunities would provide alternative sources of international investment. For investors, new derivatives and index products, such as derivatives on NSEIX using FTSE Russell indices as underlying references, would increase the range of instruments available for trading and risk management purposes.
NSE International Exchange Managing Director and CEO V Balasubramaniam related the deal to the India-UK Comprehensive Economic and Trade Agreement, as part of a broader financial market collaboration between the two nations.
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