NSE ties up with Stock Exchange of Mauritius

The National Stock Exchange of India (NSE) has signed a memorandum of understanding (MoU) with the Stock Exchange of Mauritius (SEM) for co-operation between the two bourses, an official statement said here on Thursday.

The NSE has also signed MoUs with the Mauritius' ministry of financial services, good governance and institutional reforms and the Financial Services Commission. The MoUs were signed at Port Louis, Mauritius.

Regarding the NSE and SEM partnership, the statement said the objectives of the tie-up was to foster a deeper and more strategic relationship between the two institutions, facilitating the development of channels for knowledge sharing and developing mutual synergies for the growth and development of SEM and NSE.

"The areas of co-operation under the MoU will encompass education, training and knowledge transfer in securities markets, product development and indices creation as well as capacity development in the field of surveillance and investigation," it added.

NSE managing director and chief executive Chitra Ramkrishna said: "Mauritius is an important trade partner with India. We are happy to have entered into an understanding with SEM for fostering the growth of the Mauritian financial markets."Such initiatives can ensure economic benefits to the nation and its people in the long run."

SEM's chief executive Sunil Benimadhu said: "This collaborative relationship between the SEM and the NSE is expected in the medium term to create new opportunities for the development and listing of new products on the SEM's platform and further enhance the attractiveness of Mauritius and of the SEM as a hub for investing into Africa."

"The NSE and SEM partnership will also focus on capacity building and training of SEM employees and of securities markets professionals in Mauritius," he added.