India’s National Stock Exchange, the nation’s largest bourse, and the London Stock Exchange Group Plc signed an agreement today that may allow access to each other’s markets.
The FTSE Group, in which the London Stock Exchange has a 50 percent stake, may offer the FTSE 100 Index options and futures on the Indian bourse, while the London-based company may sell the Nifty options, according to a statement issued by the Indian company today.
“At this stage it’s options, at a later stage it could be more than that,” Ibukun Adebayo, the India head of primary markets at the London Stock Exchange, said at a press briefing today. “The futures are being traded in the CME. We just need to make sure there are no issues there.”
The National Stock Exchange’s Nifty futures contracts are traded on the Chicago Mercantile Exchange and the Singapore stock exchange.