Mumbai, April 5: BSE (earlier known as Bombay Stock Exchange) and India International Exchange (India INX) have signed a memorandum of understanding with Moscow Exchange (MOEX) to connect investor community and companies in both countries besides allowing a capital formation platform. BSE and India INX are the first Indian exchanges to enter into the MoU with Moscow exchange.

The exchange companies have agreed to the secondment of senior personnel to enhance understanding of activities in each other's market. They will conduct joint research to explore the possibility of further cooperating in the area of cross-listing of derivative products, exchange traded fund, dual listing and fixed income product cooperation."

BSE, India Inx and MOEX are collaborating together to facilitate the development of channels of communication. We strongly believe together we would foster a continuing relationship for the benefit of the financial services industry in India and in Russia," said BSE Managing Director and CEO Ashishkumar Chauhan after signing the MoU with MOEX CEO Alexander Afanasiev on Wednesday.

BSE, India INX and MOEX will use the India-Russia Initiative as an important portal for professional intermediaries in both markets to share their know-how and expand their client network in their home market and abroad. Users of the India-Russia Initiative can have access to a community of professional intermediary networks to benefit their development and cross-border operation, according to an official statement.