Metropolitan Stock Exchange and GMEX to collaborate in exchange space in India
25 May 2017 | 3914 views | 0
Metropolitan Stock Exchange of India Limited (MSE), the third national level stock exchange, today announced it has agreed to collaborate with GMEX Group (GMEX) of London, provider of multi-asset exchange trading and post trade technology and business solutions.
MSE is developing innovative products in existing market segments as well as launching new trading segments. It is also expanding the eco-system and encouraging greater participation from market participants. Technology and product innovation are cornerstones of future plans of MSE.
GMEX uses its extensive market infrastructure experience and expertise to create strategic master plans with exchanges, clearing houses, depositories, registries and warehouse receipt platforms. GMEX also has unique global experience in the introduction of new exchange traded products.
This collaboration will develop high impact initiatives in Indian capital markets including
• Product development in existing segments and launching new product categories
• Increased focus on technological innovations
• Market infrastructure development for new products and Project Finance
To add strategic depth to the relationship, proposal envisages a potential equity investment by GMEX in MSE and its subsidiary, Metropolitan Clearing Corporation of India Limited.
Mr. Udai Kumar, MD & CEO at MSE commented, “This collaboration will support the MSE strategy and vision of delivering innovation in products and technology. The new products will enable key objectives to deepen and widen our capital markets and address the growing needs of the economy. GMEX brings proven global expertise and we are excited about the benefits from this collaboration”.
Mr. Hirander Misra, Chairman & CEO at GMEX stated “We are pleased to be working in this key industry initiative with the MSEs Board and Executive Management Team who we find especially forward thinking”. He added, “This approach combined with the advanced business and technology enablement that we bring to the MSE and MCCIL will facilitate new strategic opportunities not only within India but also internationally.”