Metropolitan Stock Exchange and GMEX to Collaborate in Exchange Space in India

Metropolitan Stock Exchange and GMEX to Collaborate in Exchange Space in India
26.05.2017 09:45 am

Metropolitan Stock Exchange and GMEX to Collaborate in Exchange Space in India

Foreign Exchange

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.”

Related News

Integral Reports Average Daily Volumes of $32.6 Billion in May 2020

Integral, the technology partner trusted by leading banks, brokers, and asset managers to... Read more »

Bank of China teams up with Refinitiv to launch new foreign exchange price prediction app DeepFX

Bank of China has launched DeepFX, an artificial intelligence-based foreign exchange trading signal prediction application through Eikon, the first released third-party Eikon... Read more »

Wirecard and Singapore’s largest currency exchange network FXChange simplify payments for every traveler

Wirecard, the global innovation leader for digital financial technology and FXChange, Singapore’s largest self-service currency exchange network, are collaborating to provide... Read more »

CLS launches its first data product for FX forward market

CLS, a market infrastructure group delivering settlement, processing and data solutions, is releasing an FX Forward Volume dataset as part of its comprehensive suite of... Read more »

BNP Paribas partners with Kantox

BNP Paribas today announces its strategic partnership with Kantox, a leading fintech specialising in FX risk management solutions.

The agreement enables... Read more »

UK Fintech Kantox Closes €5 million Venture Debt Financing Agreement with Silicon Valley Bank

Kantox, a leader in FX management solutions for businesses, has just closed its second venture debt financing deal with Silicon Valley Bank (SVB), the bank of the world’s most... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel