NSE IFSC Signs MoU with London Stock Exchange to Explore Cross-Listings, Derivatives and Trading Links

NSE IFSC Ltd and the London Stock Exchange signed a memorandum of understanding (MoU) on October 13, 2026, to explore cooperation in listings, trading and financial products.  

The agreement was announced at GIFT IFSC in Gandhinagar and covers potential links between India’s GIFT City and London’s financial markets. The exchanges will examine dual and cross-listings across equities, fixed-income securities, and exchange-traded funds (ETFs).  

The agreement also covers trading in existing products and the development of new financial instruments. 

Derivatives and Market Connectivity 

One area under consideration is the development of derivatives on NSE International Exchange (NSEIX) using FTSE Russell indices as underlying references.  

The exchanges will also explore the joint development of equity indices, cross-border trading connectivity, and market-data distribution. 

The MoU outlines possible areas of cooperation. The information provided does not specify when any of the proposed arrangements could be introduced. 

Products Available on NSEIX 

NSEIX was established at GIFT City in 2017 and is recognised by the International Financial Services Centres Authority (IFSCA). Its offerings include Indian single-stock derivatives, index derivatives, currency derivatives, depository receipts and global stocks. 

The exchange also provides primary-market products, including equity share listings, special purpose acquisition companies (SPACs), real estate investment trusts (REITs), infrastructure investment trusts (InvITs), debt securities and environmental, social and governance (ESG) debt securities under the IFSCA framework. 

NSEIX and GIFT Nifty have received regulatory exemptions and relief that allow US customers to participate in derivative contracts listed on the exchange. 

Comments from Exchange Officials 

V Balasubramaniam, managing director and chief executive of NSEIX, said the agreement followed the India-UK Comprehensive Economic and Trade Agreement. He identified dual listings, cross-listings, and trading links as areas for further work between the exchanges. 

Dame Julia Hoggett, chief executive of London Stock Exchange plc and head of Digital and Securities Markets at LSEG, said the MoU marked another step in the exchange’s international partnerships. 

Read More: SEBI Proposes Mandatory Monitoring of IPO Funds, Fines and Promoter Demat Freezes! 

Conclusion 

The two exchanges will assess options for linking their markets through listings, trading, and financial products. The scope and timing of any changes will depend on the outcome of these discussions. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.  

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.