The Colombo Stock Exchange (CSE) and NSE IFSC Limited (NSEIX), an international multi-asset exchange and a wholly-owned subsidiary of the National Stock Exchange of India Limited, have signed a Memorandum of Understanding (MoU) to enhance capital market cooperation between Sri Lanka and India. This strategic partnership was formalized in a ceremony attended by senior leaders from both exchanges, highlighting their shared commitment to fostering a more integrated regional financial ecosystem that benefits companies and investors in both countries.
As part of this agreement, the CSE and NSEIX will focus on introducing dual listings and cross listings. This initiative will allow companies to list the same shares on both exchanges simultaneously or establish a presence in both markets through separate listings. Such listings offer companies the advantage of increased liquidity, thanks to a broader and more diverse investor base, and significantly improve visibility among institutional and retail investors in both Sri Lanka and India. The access to India’s large and deep capital markets is expected to be transformative for companies in terms of growth financing and brand recognition.
Beyond listings, the two exchanges have committed to collaborating on the development of new financial products tailored to the needs of cross-border investors, reflecting the evolving sophistication of both markets. The MoU aims to facilitate bidirectional trading opportunities, granting investors in Sri Lanka and India access to each other’s markets. Additionally, the exchanges have agreed to engage in joint research initiatives, training programs, capacity-building exercises, and outreach efforts to mutually benefit both institutions and the broader investment communities they serve.
Photograph – (L-R): Parties to the MoU signed at GIFT IFSC Global Securities Markets Conclave 2.0: Mr. Chetan Shah, Head of Capital Markets – Axis Bank; Mr. Neeraj Kulshrestha, MD & CEO – NSE International Clearing Corporation; Mr. Balasubramaniam Venkataramani, MD & CEO – NSEIX; Mr. Kosala Gamage, Director – CSE; Mr. Rajeeva Bandaranaike, CEO – CSE; Ms. Punyamali Saparamadu, SVP – CSE; Ms. Hetal Kotak, Head of Listings – NSEIX.
